NEW DELHI (National Desk): Addressing the ‘48th Joint Meeting of India-Japan and Japan-India Business Co-operation Committee’, HE Mr Keiichi Ono, Ambassador of Japan to India on Thursday said that India-Japan Economic Partnership need to have more deeper cooperation in people-to-people exchange. This deeper exchange of people is required from both sides. Japanese population is fast ageing, and Japan needs skillful people for its industry from India.
The meeting was organized by FICCI, jointly with the Japan Chamber of Commerce and Industry (JCCI).
He further added that many Japanese companies would also like to have greater involvement of their Japanese manpower here in India for certain operations. India is now the centre of economic growth in the world. He added that we need to have more ambitious targets for engagements between the public and private sectors and further foster people-to-people relationships for strengthening economic engagement between India and Japan. With around 1500 Japanese companies currently present in India, both sides felt the need for increasing this number manifold especially with Japanese MSMEs in coming years, noted HE Mr Ono.
Gaku Yoda, Deputy Director General, METI (Japan) emphasized the importance of collaboration with India to establish the necessary frameworks for Japanese companies to expand into African region which has a high growth potential. Under this Japan aims to promote investment by its companies in India and establishing business bases that will accelerate bilateral business with various African countries. He also added that the target of 5 trillion yen of investments in public and private investment in India from Japan set in 2022, is closed to be achieved, with 3.8 trillion yen already achieved in just first two years. He also mentioned that METI has allocated approximately 1.5 billion yen (USD 10 million) for a budget programme dedicated to industrial Human Resource exchange with India from the budget for the Global South.
Sibi George, Indian Ambassador to Japan while addressing virtually said highlighted that there are 1500 success stories of Japanese companies in India, which should be elevated to 15,000 in the forthcoming times through collaboration in significant areas such as Semiconductors, Artificial Intelligence, Critical technologies and SME cooperation.
