The bilateral trade between India and Japan would be hit in the first quarter of the current fiscal due to massive destruction caused by an earthquake and tsunami that hit the Land of the Rising Sun, last month.

"The real impact would be seen in April-June this fiscal on account of less demand owing to earthquake and tsunami in Japan," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said.

However, he said the USD 12.5 billion trade target between the nations would be achieved due to healthy growth registered in the first six months of 2010-11.

"We have done reasonably well in the first half of 2010-11 (April-September 2010)... As far as bilateral target is concerned, we will be touching USD 12.5 billion in 2010-11," Sahai said.

In the first six months of 2010-11, the bilateral trade stood at USD 6.4 billion.

April 17^th, 2011

Source: ptinews.com

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