India, Japan reveal ten-year cooperation in various sectors

(MENAFN) India and Japan unveiled a ten-year roadmap for collaboration across multiple sectors as New Delhi seeks alternative markets to offset 50% tariffs on its exports to the US.

At a joint press briefing in Tokyo on Friday, Indian Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba released a statement outlining the long-term plan for cooperation.

“The India-Japan partnership is rooted in mutual trust, reflects our national priorities, and is shaped by our shared values and beliefs,” Modi said. “Together, we carry a common dream of peace, progress and prosperity of our peoples and for the world.”

The two nations agreed to enhance supply chains and investment and to expand collaboration in artificial intelligence, high-speed rail, space, and other advanced technologies.

“I believe it is in the interests of both nations to build a mutually beneficial relationship,” Ishiba said. “This involves leveraging each other’s strengths, tackling the challenges we face together, and pooling our wisdom to jointly create solutions for the next generation’s problems – problems for which no one currently holds the answers.”

During the summit, Japan announced plans to invest $68 billion in India over the next decade. The countries also agreed to expand skilled worker exchanges. “The two countries have set an aspirational target of the exchange of more than 500,000 personnel in both directions in the next five years, including 50,000 skilled personnel and potential talents from India to Japan, to create a new wave of people to people exchanges between India and Japan,” stated the Indian Foreign Ministry.

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