India, Japan to Implement CEPA from August 1

India and Japan are scheduled to implement a comprehensive free trade agreement from August 1 to boost bilateral trade between the countries to USD 25 billion by 2015. The two major Asian economies will eliminate import duties on 94 per cent of their trade items in ten years. India will remove duties on products like diesel engines, steel products and electronic items like DVD players and video cameras. The pact will also provide access to Indian professionals like accountants, researchers, yoga and English teachers and management consultants to the Japanese market