NEW DELHI: External Affairs Minister Dr S Jaishankar on Friday said Japan has contributed to many revolutions in India — the Maruti and Metro had an enormous ripple impact. “The high-speed rail and emerging and critical technology will present many possibilities,” he added.
His remarks came during the India-Japan Forum, which was also attended by Jaishankar’s counterpart from Japan, Yoshimasa Hayashi. However, Japan hopes that for further cooperation, India would extend support in providing a stable business environment.
“Japanese Prime Minister Kishida set the 5 trillion Yen target of public and private investment and financing from Japan to India in the next five years from 2022. At the same time, we will work together with the Indian government to effectively address the difficulties that Japanese companies face in the Indian market,’’ said FM Hayashi, who has come to India for the second time in six months. Hayashi had arrived in March to attend the Quad Foreign Ministers’ meeting in New Delhi.
Japan would like to see a more predictable, transparent business environment in India, which includes tax issues. “There are infrastructural challenges too. The Japanese Chamber of Commerce in India has been raising these issues. It is also looking at a way to address them,’’ said Yukiko Okano, Deputy Press Secretary of Japan.
She didn’t quantify what percentage of 5 trillion Yen has already been invested in India.
Last month, Japan revised its Development Cooperation Charter, which is their basic document. The new charter would enable Japan to better address development challenges that it faces, including food and energy, climate change and digital transformation.
“Under this revised charter, we will continue to undertake efforts to build quality infrastructure in India, including the high-speed rail and urban transportation,’’ Hayashi said. Meanwhile, the discussions between the two ministers covered wide-ranging issues — from G20 to the Indo-Pacific, Ukraine, China and even partnerships in defence and focus on the North-East.
Dr Jaishankar said that India and Japan can also work together in critical technologies and semiconductors as Japan has a powerful impact on manufacturing in India. Ukraine and the impact of the conflict on the world were discussed too. “At a time when there are many pressing challenges, including Russia’s aggression against Ukraine, Japan and India fully share the necessity to lead the world to cooperation, rather than to division and confrontation. The free and open international order based on the Rule of Law is the key to realising such a world,” said Hayashi.
He said “free” means each country is free to make decisions based on its own sovereignty. The Rule of Law is essential for countries to enjoy such freedom. ‘Open’ means respect for principles including inclusiveness, openness and diversity, explained Hayashi. The two ministers spoke about enhancing trade and defence ties with a focus on the Indo-Pacific and North-East.