In an effort to meet a target of $35.9 billion in Japanese investment in the nation by 2027, officials said on Friday that India and Japan had looked into working in key technologies such as semiconductors and resilient supply chains.
S. Jaishankar and Yoshimasa Hayashi, India’s and Japan’s foreign ministers, met in New Delhi on Thursday to examine ways to expand their collaboration on defense technology and equipment. Hayashi is in the Indian nation’s capital on a two-day visit.
The world’s supply of the raw materials and components required to create a variety of products, from vehicles to computer chips, has been affected by Russia’s war in Ukraine.
Strong cooperation between India and Japan is essential to ensuring an open, prosperous, inclusive, and rules-based Indo-Pacific region, according to a statement from India’s External Affairs Ministry. Hayashi and Jaishankar also stressed the importance of this.
In the Quad, which also includes the United States and Australia, they discussed cooperation within multilateral and plurilateral frameworks, according to the statement. The coalition intends to combat the increasing threat that an aggressive China poses in the area.
At a gathering of business executives from the two nations, Hayashi stated that Japan views India as a crucial ally in establishing a free and open Indo-Pacific.
He claimed that he has been enticing Japanese businesses to participate in 15 crucial industries that India has recognized as being eligible for subsidies. These include autos, applied chemical batteries, and telecommunications gear.
All of this, according to Hayashi, has caused a notable increase in Japanese investment in critical technology including electronics, medical equipment, and home appliances.
