India’s Readiness for the Regional Comprehensive Economic Partnership Through the India–Japan Partnership

India and Japan are engaged in a strategic and comprehensive economic partnership. However, some major powers have different interests that may delay the conclusion of the Regional Comprehensive Economic Partnership (RCEP). India and Japan were among the 14 countries that initially joined the RCEP, but India has since opted to stay out, pending resolution of outstanding issues. This study aims to examine the India–Japan strategic partnership in the development of the RCEP and measure the saving potential of the India–Japan Comprehensive Economic Partnership Agreement, employing an ex-ante analysis with scenarios based on zero tariffs. These political and economic partnerships play an essential role for both countries at the regional level. India and Japan have good economic and political relations that could enhance the feasibility of India rejoining the RCEP. The results of the saving potential analysis show that both countries have gained benefits from the economic partnership.