High-ranking Japanese Official's Visit to India Aims at 2 Trillion Yen Investment, Eyes China
According to a July 7 report by Japan's Yomiuri Shimbun: During her meeting with Indian Prime Minister Modi, Japanese companies will exchange approximately 120 cooperation documents with India. The total investment from Japan is expected to reach around 2 trillion yen (approximately 85 billion RMB), as Japan views entering India’s rapidly growing market as a key driver for accelerated development. Japan has released a draft joint statement to be submitted at the summit, which includes deepening cooperation on maritime security and energy security.
On the 1st, Taro Aso arrived in New Delhi via special aircraft. This marks her first visit to India since assuming office. Prior to departure, she told reporters that advancing economic security and technological innovation cooperation between Japan and India would be central to this trip, adding: “We hope through collaboration to expand the foundation of Japan-India partnership and achieve robust economic growth.”
According to Japanese government officials, the agreement includes Fujifilm’s plan to jointly establish a semiconductor materials factory with India, as well as Suzuki Motor’s proposal for a biogas power plant. A Japanese AI startup is also collaborating with an Indian domestic AI company to develop applications, promoting cross-industry cooperation.
Last year, Japan and India reached a goal to increase private sector investment in India to 1 trillion yen within 10 years—this 2-trillion-yen project is part of that initiative.
Meanwhile, the draft joint statement reaffirms last year’s agreement, calling for “promoting complementary Japan-India cooperation” and focusing on urgent issues such as economic security. Modi welcomed Prime Minister Aso’s “Free and Open Indo-Pacific (FOIP)” initiative.
In the security domain, beyond maritime security cooperation, India expressed appreciation for Japan’s revised policy framework announced in April regarding the Defense Equipment Export Three Principles. The two sides will hold the Japan-India Foreign and Defense Ministerial Meeting (2+2) this year.
Japanese media reports: Given China’s imposition of rare earth export restrictions, both sides clearly expressed serious concerns over “economic coercion and non-market policies.” On energy security, both parties pledged to cooperate in strengthening energy supply capabilities, including joint reserves.
The statement also affirms support for improving India’s business environment and assisting small and medium-sized enterprises in entering the Indian market. It further advances collaboration on JR East’s Shinkansen E10 series train in India.
Regarding technological cooperation, Aso emphasized: “Promoting innovation—including artificial intelligence—is extremely important for further expanding the foundation of our partnership.”
Original article: toutiao.com/article/1869555764483075/
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