India and Japan are collaborating to update their existing Comprehensive Economic Partnership Agreement (CEPA), which has been in effect for fifteen years. The goal is to modernize the agreement to reflect current economic realities and expand its scope to cover emerging areas of trade. This initiative, discussed in Nagoya, seeks to strengthen the economic ties between the two nations. Details are still emerging, but the focus is on making CEPA more relevant and beneficial in today’s global landscape. The modernization is expected to incorporate new technologies and address contemporary trade challenges. Both countries aim to enhance investment and facilitate greater economic cooperation through this revised agreement. This move signals a commitment to a long-term, robust trade relationship between India and Japan.