India has asked Japan and South Korea to renegotiate their free-trade agreements (FTAs) with the South Asian nation to make it "more balanced and equitable", India's trade minister said on Thursday, amid a widening trade gap with the countries.
“Japan and Korea - we opened our markets for them. They have not allowed our exports to their country... What it was 10 years ago, it is the same today with Japan," Trade Minister Piyush Goyal said at an event in New Delhi.
Japan's exports to India have, meanwhile, grown 200%, he added.
Goyal also termed India's free trade agreement with the Association of Southeast Asian Nations (ASEAN) "ill-conceived" and "unfair" to the Indian industry.
© Thomson Reuters 2023.
5 Comments
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deanzaZZR
What does India produce that Japanese consumers want?
Desert Tortoise
Stuff they now buy from China. India is becoming one of the more popular places firms move production when they move their operations out of China.
deanzaZZR
Why would Japan block sales of Indian produced iPhones when Japanese consumers have purchased tens of millions of Chinese produced iPhones?
Samit Basu
@deanzaZZR
Curry powder? Duh.
Desert Tortoise
Oh look, a little side of racism with my lunch.