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 USD 12.5 billion the last fiscal, Parliament was informed Monday.
Similarly, the country's imports from Malaysia grew by 9 percent to USD 10.43 billion in 2012-13, from USD 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 USD 4.44 billion in 2012-13 from USD 3.97 billion during the previous fiscal.
However, the country's exports to Japan declined to USD 6.26 billion during the last fiscal, from USD 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.