FTA between India and Japan

A free trade agreement between India and Japan, aimed at liberalizing trade between the two countries, will come into force today. The agreement called the Comprehensive Economic Partnership Agreement will help India-Japan trade touch 25 billion US dollars by 2015 from 12.35 billion dollars at present. Reports from official media: Textile sector in India to-be biggest gainers of FTA agreement,Japan agrees to eliminate tariffs completely over the next five years. Leather manufacturers, not be as lucky. Leather is among the few items along with farm produce that is not covered by the agreement, and tariffs, therefore, will continue to draw high. Gains are expected to be much bigger for the services sector as Japan has agreed to liberalize temporary movement of Yoga instructors, classical music and dance exponents and English language teachers. This would be in addition to the existing commitments for professionals like Engineers and IT professionals.