India, Japan agree to further business ties

Context
On the sidelines of India-Japan Forum summit, both nations said that they are very keen to work hand-in-hand and asserted to expand cooperation in the region. Key-highlights of the 15th India-Japan Foreign Ministers’ Strategic Dialogue
  • Key areas of focus: Global issues, including terrorism and nuclear proliferation.
Important Bilateral Exercises between India and Japan
  • Veer Guardian
  • Dharma Guardian
  • Maritime Exercises
    • Japan-India Maritime Exercise (JIMEX)
    • Malabar Exercise (India – US-Japan – Australia)
    • Maritime Partnership Exercise (MPX)
  • The meeting provided an opportunity to review the progress made in the India-Japan Special Strategic and Global Partnership.
  • Both sides emphasized the importance of achieving the target of JPY 5 trillion Japanese investment in India in the period 2022-27.
  • Cooperation: They explored potential areas of collaboration in critical and emerging technologies, including semiconductors; resilient supply chains; and digital public infrastructure, among others.
  • Defence: Both sides also expressed satisfaction with the strengthening of defence and security cooperation, including regular exercises and staff talks between all three services.
  • Japan and India will also promote Japanese language education, student changes and specified skilled webcast system in India.
Mutual Significance
Japan for India India for Japan
  • Japan is a natural partnership in this modernising India. Japan has truly unleashed the revolution in India.
  • Major revolutions brought by Japan
  • The Suzuki revolution
  • The metro revolution.
  • The high-speed rail in making.
  • The fourth revolution is in critical and emerging technologies and semiconductors
  • India is an indispensable partner to ensure a free and open Indo-Pacific.
  • Japan has designated the year 2023 as the “Japan India tourism exchange” year.
  • India is an integral part for us in terms of the United Nations Security Council.

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