New Delhi, Aug. 27 -- India-Japan bilateral trade could rise to USD 50 billion by 2030 from USD 27.47 billion in 2025-26, with greater export diversification, an upgraded trade agreement and deeper business engagement supporting the expansion, according to an ASSOCHAM report.

The industry body noted that bilateral merchandise trade has increased nearly 79 per cent from USD 15.36 billion in 2020-21 to USD 27.47 billion in 2025-26. However, the trade balance remains tilted towards Japan, with India importing USD 21.43 billion worth of goods and exporting USD 6.04 billion during 2025-26.

In the report, ASSOCHAM Chief Economist S P Sharma said, "ASSOCHAM believes that India Japan bilateral trade has the potential to reach USD 50 billion by ...