India-Japan sign a FREE trade agreement

[abhay.sawhney]

Feb 16, 2011, 10.35am IST

TOKYO: Japan and India signed on Wednesday a bilateral free trade agreement that would abolish duties on more than 90% of trade for 10 years.

Japanese foreign minister Seiji Maehara and Indian commerce and industry minister Anand Sharma concluded the pact in a ceremony at the foreign ministry in Tokyo.

India, Japan sign free trade agreement - The Times of India

[A-mod]

India, Japan sign free trade agreement

Here's the article posted in TOI today.

TOKYO: Japan and India signed on Wednesday a bilateral free trade agreement that would abolish duties on more than 90% of trade for 10 years.

Japanese foreign minister Seiji Maehara and Indian commerce and industry minister Anand Sharma concluded the pact in a ceremony at the foreign ministry in Tokyo.

The pact will "promote a strategic partnership between the two countries so that they can establish win-win relations and achieve growth", Maehara said.

Sharma said the pact "provides an overarching framework to promote our economic cooperation, both trade and investment, which will be rewarding for both India and Japan".

"We have noted in our mind that this will usher in a new era of economic engagement, which will bring development, innovation and also prosperity in both of our societies," he said.

The deal would eliminate tariffs on 90 percent of Japanese exports to India, such as auto parts and electric appliances, and 97% of imports from India, including agricultural and fisheries products, until 2021, the Japanese government said.

The two countries have been negotiating since January 2007.

Japan and India are also to continue talks on lifting employment restrictions to allow Indians to work in Japan as nurses and care givers. Japan, which is bracing itself for increasing health care requirements as its population ages, hopes to conclude the talks within two years, the government said.

Does auto parts imply only spares or CBUs ???

[sunilg]

similar topics merged and approved.

[zerotosixty]

Does this mean that All the Japanese bikes ranging from 600 to 1400CC will be free of duties and would cost in 5 - 7 L range?

[chetanchandu2000]

really ???? is that includes full bike or only spare parts..??
from when it is effective..??

[tibby]

The deal would eliminate tariffs on 90 percent of Japanese exports to India, such as auto parts and electric appliances, and 97% of imports from India, including agricultural and fisheries products, until 2021, the Japanese government said.

If the part in blue is true, I can already visualise my dream garage turn into reality sometime really soon.
It may not include CBUs, but CKDs are definitely auto parts.

Oh, I'm getting so excited now, to learn more details of this agreement.

[chetanchandu2000]

Yeah tibby.. me too can somebody throw more light on this..??

[tibby]

This seems to suggest import duties on bikes will not eliminated:

Though passenger cars have been kept in the negative list and will not be subject to concessional duties, some of the critical car parts imported by India-based automobile plants like that of Suzuki would get duty free treatment.

Source: Japanese imports to become cheaper

[sherry_unicornlover]

Thats a nice news. I see Auto Components have been mentioned.
This should definatly bring down the cost.

[Satyamzma]

Finally time has arrived to jump directly on Busa

[nitrosatya]

Great news!

Ninja 250's price must reduce now!

[dual disc 200]

The era of 600's in India doesn't seem that far if this agreement about the auto parts is true..!

[pads]

awesome..... so my fleet can be ready much before I expected ..... but good news for all.....

[rennycornelius]

Does that mean 600 I4 = 700000 INR. ?

[hotshot.vipin]

yippeeee finaly now i wil get the ninja instead of a cbr250(well m still a student so budget utna he h...tbi cnt xpect a r6 at dat price)
yippppppyyyyy.....................................