FICCI flags widening trade deficit with Japan as concern for Indian exporters
Highlighting difficulties faced by Indian exporters in accessing the Japanese market, Industry chamber FICCI President Anant Goenka has said that the widening trade deficit with Japan is a matter of concern for Indian exporters. He added that stringent certification and regulatory requirements too are among key concerns for exporters, particularly for pharmaceutical companies in the Japanese market. He has called for greater recognition of Indian certifications in Tokyo to improve market access. Besides, he flagged the bias of buying products within Japan of Japanese companies as another concern for exporters and has emphasized the need for cultural opening.
On India-Japan collaboration in Africa, he noted that India and Japan have significant scope for collaboration in areas such as high-tech manufacturing, artificial intelligence, data centres, shipbuilding, critical minerals, steel and semiconductors. He added that both the countries can jointly work towards investing more in Africa and selling more to Africa. Also, critical minerals are key areas where the two countries can collaborate in Africa.
During fiscal year 2025-2026, two-way commerce between India and Japan grew 9.18% to $27.47 billion, with Indian exports standing at $6.03 billion and imports at $21.43 billion, from $25.16 billion in 2024-25. The trade deficit between the countries increased to $15.4 billion in the last fiscal year from $12.66 billion in 2024-25. It was $12.53 billion in 2023-24 and $11 billion in 2022-23.
