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India asks Japan to reduce trade surplus

Ahead of Japanese PM Shinzo Abe’s visit to Guwahati for a summit next week, India asked Japan to initiate measures to reduce the Japanese trade surplus and sought more market access for Indian goods and services. During PM Shri Modi’s visit to Tokyo last year, the two nations had agreed to seek closer economic and military ties (as both countries are wary of China).

Bilateral trade between the two countries rose to US$ 17.63 billion in 2018/19 from US$ 10.9 billion in 2008/09, with the trade balance widening to US$ 7.9 billion in favour of Japan.