India and Japan strengthen trade ties in landmark 2026 economic talks

India and Japan held their 7th Joint Committee Meeting (JCM) under the Comprehensive Economic Partnership Agreement (CEPA) in Tokyo on 2 March 2026. The talks focused on strengthening trade ties, addressing imbalances, and exploring new opportunities in sectors like textiles, pharmaceuticals, and agriculture. Both sides aimed to build on commitments made during the August 2025 Annual Summit, pushing for a more diversified and sustainable trade relationship.

The meeting was co-chaired by Shri Rajesh Agrawal, Secretary of India's Department of Commerce, and Japan's Senior Deputy Minister of Foreign Affairs. Indian officials highlighted efforts to simplify regulations and improve the business environment, encouraging Japanese firms to expand investments. A Trade and Investment Roadshow was also organised to boost capital flows between the two nations.

Key discussions included aligning priorities for the upcoming 14th Ministerial Conference (MC14) of the World Trade Organization. Shri Agrawal stressed that CEPA offers tariff predictability and regulatory stability, positioning India as a reliable partner in global supply chains. The Indian delegation also pushed for a more balanced trade structure, moving beyond traditional sectors to ensure long-term growth. The talks reflected a shared vision from the 2025 summit, with both countries seeking to unlock the full potential of their economic partnership. While no immediate trade data is available following the meeting, the focus remains on expanding collaboration in high-potential industries.

The meeting concluded with commitments to deepen trade cooperation and attract Japanese investments into India. Officials from both nations reaffirmed their dedication to reducing trade imbalances and fostering a more resilient economic relationship. Further developments will depend on follow-up actions and the outcomes of the upcoming WTO conference.