India's imports from Japan, Malaysia increase

NEW DELHI: India's imports from Japan, with which it implemented a comprehensive free trade agreement in 2011, increased by over 3 per cent to $12.5 billion the last fiscal, Parliament was informed today. 

Similarly, the country's imports from 
Malaysiagrew by 9 per cent to $10.43 billion in 2012-13, from $9.55 billion during the previous fiscal. 

India has implemented 
Comprehensive Economic Cooperation Agreement ( CECA) with Malaysia in July 2011, Minister of State for Commerce and Industry D Purandeswari said in a written reply to the Lok Sabha. 

She also informed the House that India's exports to Malaysia increased to $4.44 billion in 2012-13 from $3.97 billion during the previous fiscal. 

However, the country's exports to 
Japan declined to $6.26 billion during the last fiscal, from $6.32 billion in 2011-12. 

"In trade agreement negotiations, India is committed for a balanced and mutually beneficial outcome," she said. 

In a separate reply, she said that India and Australia are negotiating and the fifth round for the pact is likely to take place in this month. 

"It is not feasible to indicate the time likely to be taken to complete the negotiations in a balanced manner bringing mutual benefit," she added.