External Affairs Minister S. Jaishankar emphasized the growing strategic and economic ties between India and Japan. He highlighted the potential for increased business cooperation between the two nations, stating that both countries need to work harder to achieve this goal.
Jaishankar noted that India and Japan have set an ambitious target of 5 trillion yen (approximately USD 42 billion) in new investments by 2027. While they have already made significant progress, reaching halfway to the target, Jaishankar stressed the need for continued efforts. He pointed out that the changing global economic landscape requires a stronger push from both sides to meet these investment goals.
#WATCH | Delhi: EAM Dr S Jaishankar says, "I agree there is scope to increase trade with Japan. Our target is 5 trillion yen by 2027. We are halfway to the target. With the change in geo-economics, we have to work harder with Japan… The strategic people in Japan also understand… pic.twitter.com/PD0oxKf0IB
— ANI (@ANI) August 2, 2024
Reflecting on his recent visit to Japan, Jaishankar mentioned the productive meetings with Japanese leaders. He noted that there is a solid political understanding between the two countries and that strategic interests align well.
However, he observed that the business community in Japan still needs to fully capitalize on the opportunities in India. He urged for a greater push to translate the political and strategic convergence into tangible business outcomes.
Jaishankar highlighted a significant gap in the presence of Indians in Japan compared to other South Asian countries. He pointed out that there are fewer Indians living and working in Japan than Nepalis, Sri Lankans, Bangladeshis, and Pakistanis.
In addition, the number of Indian students in Japan is relatively low, with only 1,500 out of 1.3 million Indian students studying abroad. Jaishankar called for efforts to bridge these gaps and strengthen people-to-people connections.
During his visit, Jaishankar discussed with his Japanese counterpart, Yoko Kamikawa, ways to enhance bilateral cooperation. They reviewed the progress of the high-speed rail project, a flagship initiative between the two countries. They also welcomed the expansion of recruitment under the Japan Exchange and Teaching (JET) Programme and the introduction of Japanese Language Partners to India.
Moreover, they exchanged views on cooperation regarding Security Council reform, in anticipation of the Future Summit in September 2024.
Jaishankar emphasized the need for India and Japan to work harder to realize their full potential in business and other areas of cooperation. He expressed optimism about the future of India-Japan relations and the benefits it would bring to both nations.
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