Sign in Subscribe
Modi, Narendra

Japan and India Strengthen Strategic Partnership with Enhanced Cooperation

Strategic Insights

— 2 min read

On Friday, 29, Japanese Prime Minister Mr. ISHIBA Shigeru and Indian Prime Minister Mr. Narendra Modi held a summit meeting, marking significant progress in their countries' bilateral relations. The meeting resulted in the issuing of several outcome documents, including the "Japan-India Annual Summit Joint Statement" and the "Japan-India Joint Vision for the Next Decade." The two leaders also engaged in a joint press occasion and a working dinner, discussing various topics such as security, economy, investment, and innovation. The discussions centered on deepening personal relationships, leveraging respective strengths, and building a mutually complementary relationship to address future challenges.

Key Takeaways:

  • The Japan-India Annual Summit Joint Statement highlights the countries' shared commitment to peace and stability in the Indo-Pacific region and international society.
  • The two leaders welcomed the revision of the "Joint Declaration on Security Cooperation between Japan and India," announced in 2008, and confirmed the importance of sharing responsibility toward common peace and stability goals.
  • Japan and India launched the Japan-India "Economic Security Initiative" to strengthen cooperation, including the resilience of supply chains for critical materials, and issued a Fact Sheet outlining concrete initiatives.
  • The two leaders stated that 10 trillion yen in private investment to India is a new target for the next five years and will continue working on improving the business environment to support private sector initiatives.
  • The signing of the memorandum of cooperation on the establishment of Joint Crediting Mechanism (JCM) and a joint statement of intent on hydrogen and ammonia demonstrates Japan and India's commitment to cooperation in the fields of environment and energy.
  • A new "Next-Generation Mobility Partnership" was launched to further strengthen Japan-India cooperation in the mobility field, focusing on disaster risk reduction, digital technologies, and next-generation energy.
  • The Japan-India Human Resource Exchange Initiative was announced under the recognition that there is still room for growth in people-to-people exchanges between Japan and India, aiming to promote the development, exchange, and circulation of mutually complementary human resources.
  • The two leaders shared a recognition of the importance of exchanges between local governments and concurred that Japan and India will provide support, including at the leader's level, for the promotion of partnerships between local governments.

Statistics:

  • 10 trillion yen in private investment to India is a new target for the next five years.
  • Japan and India achieved the 5-trillion-yen target of public and private investment and financing from Japan to India over five years, set in 2022, in three years.
  • The two leaders welcomed the signing of the memorandum of cooperation on the establishment of Joint Crediting Mechanism (JCM) and a joint statement of intent on hydrogen and ammonia.

Sources:

  • Office of the Prime Minister of Japan
  • "Japan-India Annual Summit Joint Statement"
  • "Japan-India Joint Vision for the Next Decade"
  • Joint press occasion and working dinner discussion summaries

Read more