Commerce and Industry Minister Anand Sharma has sought from Japan more market access for Indian exporters in sectors such as agriculture, marine and pharmaceutical products. He has also expressed concern over the mounting trade deficit. Mr. Sharma raised the matter during his meeting with the Japanese Prime Minister Shinzo Abe and Foreign Minister Fumio Kishida in Tokyo during his two-day visit.
The Japanese pharmaceutical market is projected to touch $100 billion, and the Indian generics can play a key role in providing affordable healthcare. India’s trade deficit with Japan stood at over $6 billion in 2012-13.
Mr. Sharma also apprised Mr. Shinzo Abe of the progress made in the implementation of the Delhi-Mumbai Industrial Corridor (DMIC) project, which was conceptualised during Mr. Abe’s 2007 visit to India. “Mr. Abe expressed mentioned that Japanese companies are looking forward to partner India in project implementation,” the statement said.