NEW DELHI: India and Japan are in the process of finalising a new bilateral framework to strengthen cooperation in economic security, with a focus on securing stable supply chains for critical goods coinciding with Prime Minister Narendra Modi’s visit to Japan on August 29 and 30.
The framework is expected to cover key sectors including semiconductors, essential minerals, communications, clean energy, artificial intelligence (AI), and pharmaceuticals, sources said.
Both sides are also preparing to announce a dedicated AI Cooperation Initiative, aimed at supporting collaboration between startups and tech firms in the emerging artificial intelligence space.
The initiative aims to promote ties between Japanese and Indian firms. “Such cooperation is a win-win and mutually beneficial and can contribute to the growth of the Japanese economy,” a source said.
The announcement is set to coincide with Prime Minister Narendra Modi’s upcoming visit to Japan. Modi may also travel to Sendai to see an experimental bullet train and visit a leading chip-making equipment manufacturer.
Japan is home to major players in the global semiconductor industry, including Kioxia, Renesas Electronics, Sony Semiconductor Solutions, and Toshiba Electronic Devices. These companies are central to advancements in chip-making and related technologies. Sendai, where Prime Minister Modi is expected to visit, is part of a region that has been increasingly focusing on semiconductor innovation and development, positioning itself as a hub for next-generation tech.
Modi is set to visit Japan on August 29-30 at invitation of Japanese PM Shigeru Ishiba, to participate in the 15th India-Japan Annual Summit
During the visit, the two leaders will review the progress of the India-Japan Special Strategic and Global Partnership, with discussions also covering key areas such as defence.