Businesses concerned over India, Japan trade deal: Ficci president Anant Goenka

TOKYO: Ficci president Anant Goenka Tuesday said businesses have flagged concerns over current bilateral trade deal between India and Japan, which has resulted in widening of trade deficit since it was signed, and access to market here and suggested changes to regulatory and certification regime.“The other is some amount of cultural opening as well in Japan, where you see a fair amount of bias towards buying products of Japanese companies within Japan. That is something where it may take time to solve,” he said.The comments came a day after commerce and industry minister Piyush Goyal’s nudge to Japanese steel makers to source products from India, wherever it was available.Goenka also flagged challenges faced by pharma companies in registering their products in Japan. “That issue was raised as well, this is a challenge that is there… Pharma companies cannot even register their products yet in Japan.”Goenka said there have been discussions to increase focus on Africa, a continent where Chinese companies have established a strong presence, backed by loans.Get the latest Business News and Live updates. Download the TOI app.