Indo-Japan trade to increase two-fold in next 5 yrs

New Delhi: The India-Japan Comprehensive Economic Partnership Agreement (CEPA), to be implemented on August 1, will double the bilateral trade between both the nations in next five years, the Ambassador of Japan in India Akitaka Saiki said.
Speaking at a felicitation ceremony organised by the Confederation of Indian Industry (CII) here yesterday, Mr Saiki said the growth of the SME sector will be key for the credible, viable and efficient growth of the Indian economy as in Japan where over 90 per cent companies supporting the Japanese economy were SMEs.
Mr Chandrajit Banerjee, Director General, CII too underlined the SME role as critical for the growth of Indian manufacturing in light of India becoming a manufacturing hub.
For manufacturing to get its due and to make it more glamorous and to accommodate the large workforce joining it, Mr Banerjee emphasised the importance to “celebrate manufacturing” to give further impetus to economic growth.