708-Chaudhari Technical Institute, Gandhinagar - Gujarat ...

1993. As a result of these agreements, tariffs in Japan fell to a low level on
average. Upon complete implementation of the Tokyo Round agreement,
Japan had the lowest average tariff level among industrial countries—2.5
percent, compared with 4.2 percent for the United States and 4.6 percent for
the European Union (known as the European Community before November
1993).
1990s to 2010
The collapse of the Japanese asset price bubble in the early 1990s and the
following Lost Decade helped matters. Discount markets opened the
distribution chains, and several companies turned to foreign trade and
investment to avoid losses and even bankruptcy. Products of Japanese
companies that were manufactured in South-Asian countries were imported at
lower prices. The Japanese consumer also changed Economic problems
forced many Japanese to look for cheap prices firs and care about national
pride or superior quality later.
JAPAN-INDIA TRADE IN GOODS
Table 1: Japan's Merchandise Trade with India
( Percentage Share)
Year Export Imports
2004 0.5 0.6
2005 0.6 0.6
2006 0.7 0.7
2007 0.9 0.7
2008 1.0 0.7
2009 1.1 0.7
2010 1.2 0.8
Source: JETRO (Japan External Trade Organization).
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