India-Japan CEPA: Meaning for Asian Economic Regionalism and IndiaWith the shift in the centre of economic gravity towards Asia, theRegional Comprehensive Economic Partnership (RCEP) of the ASEAN+6countries have assumed a new meaning. The new mega-groupings in the formof a Trans-Pacific Partnership (TPP) with an attempt to resurrect the APEC,the Trans-Atlantic Trade and Investment Partnership (TTIP), the intermittentmoves to push for ASEAN+3 partnership at a faster pace through the ChiangMai Initiative Multilateralization (CMIM) Agreement, the proposed trilateralEast Asian FTA among Japan, China and South Korea – all these initiatives andforums exclude India.
It is, in this sense, quite crucial that a grouping like theRCEP becomes fully functional and dynamic. This study, situates the India-Japan economic interactions, against this backdrop, and purports to bring out importantinsights from the India-Japan Comprehensive Economic Partnership Agreement(CEPA). India- South Korea CEPA The India-South Korea CEPA includes trade in goods, trade in services and investment. The bilateral economic linkages have been on an upswing. However, there is tremendous scope for reviewing the existing agreement and finding ways to further augment the bilateral trade, investment and economic linkages.
The study aims to provide policy suggestions on the issues of tariff liberalization schedules; non-tariff measures and standards; investment facilitation; stepping-up R&D and other areas of cooperation. India-China Trade and Investment Cooperation In the background of increasing trade between India and China, a study is being conducted with an objective to analyze the exiting trade, tariff structure and trade balance. The primary focus of the study is to analyze India’s trade deficit with China in an objective manner and finding ways of trade orientation between the two countries that can help in achieving more symmetry in economic gains for both the countries.
This entails adopting an integrated approach where trade-FDI nexus need to be harnessed for creating mutually beneficial interdependence. Strengthening manufacturing and agriculture sectors for greater output and income generation through employment generation, coupled with concomitant trade in services that complement these processes upscaled by two-way FDI are some of the dimensions, the study of which is underway.