New Delhi, Aug. 26 -- India-Japan bilateral trade has the potential to rise to USD 50 billion by 2030 from USD 27.47 billion in 2025-26, with greater export diversification, an upgraded trade pact and deeper business engagement key to achieving the target, industry body ASSOCHAM said in a report.

The report said India's share in Japan's total global imports remains below 1 per cent, leaving significant room to expand Indian exports in areas such as pharmaceuticals, chemicals, machinery, electronics and marine products.

"ASSOCHAM believes that India Japan bilateral trade has the potential to reach USD 50 billion by 2030, supported by growing economic complementarities and deeper business engagement," ASSOCHAM Chief Economist S P Sharma s...