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India and Japan are looking to make their 15-year-old Comprehensive Economic Partnership Agreement more contemporary.
Commerce Minister Piyush Goyal said the scope of the engagement could be expanded.
India has reiterated its demand to review the pact, but terms of reference have not yet been established.
The review was previously discussed by leaders at the 16th India-Japan Annual Summit.
Why it mattersA revised pact could change tariffs, market access, and investment flows for both economies.
More context
One report said the move aims to address a widening trade deficit and non-tariff barriers in Japan.
Another report pointed to Japanese investment and sourcing plans linked to the broader relationship.