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Sunday, 29 April 2012 - 14:35
India & Japan to engage in 'money talks'
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India and Japan will hold their first ever "economic dialogue" tommorrow, a move reflecting closer trading ties between two of Asia's biggest democracies.

The meeting in New Delhi comes after Japan and India last year signed a free trade pact under which the high-tech nation and the South Asian emerging market giant will scrap tariffs on 94 percent of goods within a decade.

India's foreign affairs ministry said in a statement that the first India-Japan Ministerial-level Economic Dialogue will focus on boosting trade and economic ties.

A number of senior ministers and officials from both India and Japan will participate in the ministerial-level economic dialogue.

Japan has warming commercial and political ties with India, although its activities in South Asia are only a fraction of its investment in China.

It is also keen to forge regional partnerships to offset Beijing's growing might.

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