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India, Japan inks free trade agreement
17 February 2011: The Union Government and the Japan Government on 16 February 2011 signed a bilateral free trade agreement that will abolish duties on more than 90 percent of trade for 10 years.
The pact will promote a strategic partnership between the two countries so that they can establish win-win relations and achieve growth. It provides an overarching framework to promote our economic cooperation, both trade and investment, which will be rewarding for both India and Japan.
The deal will eliminate tariffs on 90 percent of Japanese exports to India, such as auto parts and electric appliances, and 97 percent of imports from India, including agricultural and fisheries products, until 2021l.
Source: WebIndia123