Prime Highlights
- The India-Japan Business Leaders’ Forum reconvened in New Delhi after seven years, with PM Narendra Modi and PM Shigeru Ishiba charting a stronger economic partnership.
- The forum emphasized collaboration in green energy, AI, semiconductors, digital technology, and space research, highlighting joint innovation for global growth.
Key Facts
- The 12th forum was co-chaired by Baba Kalyani of Bharat Forge and Keidanren Chairman Tsutsui-san, who presented a joint report to both prime ministers.
- Recommendations included reviewing CEPA, amending the tax treaty, and supporting India’s potential entry into CPTPP, alongside private-sector dialogue on economic security.
Background
The India-Japan Business Leaders’ Forum met in New Delhi after a seven-year gap, bringing together Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba to chart a stronger path for economic partnership. The 12th forum was co-chaired by Baba Kalyani, who was the Chairman and Managing Director of Bharat Forge Ltd.
The meeting identified new areas of cooperation, including green energy, electric mobility, artificial intelligence, semiconductors, digital technology, healthcare, data centres, electronics, and space research. In his address, Kalyani described the India-Japan partnership as a key pillar for global economic security and sustainable growth amid rising trade challenges.
Kalyani underlined the need to strengthen supply chains by combining the complementary strengths of both countries. He welcomed greater Japanese investment in India, particularly in banking, financial services, and global capability centres. He also highlighted the importance of joint innovation for Society 5.0, Japan’s vision of a technology-driven and human-centred society, and called for common standards to support mutual recognition across industries.
The forum placed strong focus on skill mobility and human exchange. Kalyani opined that young and talented Indian labour force could service the needs of the Japanese labour force and establish long-term connections between the two economies.
A report prepared by the forum was presented jointly by Kalyani and Keidanren Chairman Tsutsui-san to the two prime ministers. It recommended reviewing the Comprehensive Economic Partnership Agreement (CEPA), amending the tax treaty, supporting India’s possible entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and starting a private-sector dialogue on economic security.
Both sides also agreed to deepen cooperation in clean energy, smart manufacturing, semiconductors, and artificial intelligence, while supporting collaborations between start-ups and small businesses. The forum discussed new opportunities in African markets as well as cultural and talent exchanges, including film, animation, gaming, and extended reality.
The meeting concluded that India-Japan economic partnership has entered a new stage of innovation, resilience and common prosperity, with both countries playing an increasing role in shaping the global economy.
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