A dedicated India-Japan CEPA hub that makes the long-running 2011 agreement readable for current operating decisions replaces the "old FTA most people forgot about" perception with a structured surface. The possibility is to surface what 14 years of staged liberalisation has actually accomplished — most lines have hit their post-CEPA terminal duty by now — and show the residual sensitive-sector exclusions plus the services and investment chapters that remain underused. Japan is a high-margin counterparty for Indian businesses; the hub removes friction from the relationship.