As India remains to be the top beneficiary in receiving ODA from Japan and both the countries have also agreed on CEPA (Comprehensive Economic Partnership Agreement) and Currency Swapping etc. a lot more is being expected to grow the bilateral trade. Yearly Indo-Japan summit, good rapport between head of states of these countries, assistance in various infrastructure project including DMIC, Bullet Train, Smart City Projects and possible tie between India, Japan, USA and Australia to build trade route between these countries are indicators of the mutual relationship of India Japan. Although some breakthrough is visible in the automotive business with Suzuki and Honda doing fairly well as their share from India profit is quite high, success in other sectors especially ICT is yet to be achieved as major impediments such as differences of Business Approach (minimum risk taking, long term relationship etc.), Cultural and Etiquette differences, Bilingual issues pose stumbling block for increasing the bilateral trade. Also, recent failure of Indo-Japanese ventures such as Daiichi Sankyo-Ranbaxy and Tata Docomo calls for immediate attention and countermeasure needs.