Japanese Prime Minister Shinzo Abe leads a group of 200 Japanese businessmen for meetings in India set to tap trade with the world's second-fastest growing major economy.
Critics say that both India and Japan need to strengthen their trade links to counterbalance China's growing global influence in international trade.
The Japanese Prime Minister is targeting a bilateral trade pact with India in return for discussions on Japan's support for a US$90 billion infrastructure project in India. That project would significantly improve freight lines, power stations and access to ports and airports in the corridor between India's capital New Delhi and its financial center Mumbai.
India's top exports include cotton household furnishings & clothing, diamonds and jewellery. Examples of Indian imports are civilian aircraft, chemical fertilizers and telecommunications equipment.
Japan's top exports include cars, industrial machinery and computer accessories. Leading Japanese imports are medicinal equipment, medicinal equipment and corn.
Currently, India is a relatively small trading partner for Japan. Therefore, a stronger trade agreement between the two countries can pay significant economic dividends.
