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India-Japan to work for shared prosperity

Business Cooperation in Asia-Africa Region

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Business Cooperation in Asia-Africa Region

 

PMs Abe and Modi in Tokyo.

Prime Ministers Narendra Modi and Shinzo Abe have outlined the shared vision for the future of India-Japan relations following the India-Japan Annual Summit held during his visit 28-29 Oct 2018.

Recognizing the unparalleled potential for development of relations between the two countries, Modi and Abe also reviewed the milestones achieved over the years.

Excerpts from the vision:

The two Prime Ministers reviewed with satisfaction the cooperation on development of connectivity via quality infrastructure, and other projects including capacity building for shared prosperity, carried out bilaterally and with other partners, in an open, transparent and non-exclusive manner and based on international standards, responsible debt financing practices, and in alignment with local economic and development strategies and priorities.

This synergy is embodied in collaborative projects between India and Japan in the Indo-Pacific region, including in Sri Lanka, Myanmar and Bangladesh as well as in Africa. In this regard, the two Prime Ministers welcomed the discussions for establishing the “Platform for Japan-India Business Cooperation in Asia-Africa Region” to further enhance the exchanges between Japanese and Indian businesses toward developing industrial corridors and industrial network in the region.

The two Prime Ministers welcomed the progress made for the development of India’s North Eastern Region through the India-Japan Act East Forum by identifying and implementing projects for enhancing connectivity, sustainable forest and ecological management, disaster risk reduction and people-to-people exchanges. They also highlighted the importance of development of smart islands in India.

Modi expressed his appreciation for the significant contribution of Japan’s ODA to the socio-economic development of India.

Abe expressed Japan’s intention to continue to support India’s efforts for social and industrial development, including through key quality infrastructure projects and capacity building.

The two leaders reviewed with satisfaction the progress made, including the signing of the Exchange of Notes for yen loan, on the Mumbai-Ahmedabad High Speed Rail project, which is an important symbol of India-Japan collaboration marked by the 75th anniversary of India’s independence.

They also welcomed the continued cooperation on Metro Projects which support smarter development of Indian cities. India further appreciated Japan’s role in promoting connectivity through quality infrastructure projects such as the Western Dedicated Freight Corridor and the Delhi-Mumbai Industrial Corridor.

The two Prime Ministers remain committed to synergising India’s demographic dividend and Japan’s capital and technology to realise the true potential of the India-Japan economic partnership for a prosperous future.

In this regard, India welcomed Japan’s strong support for key transformational initiatives such as “Make in India”, “Skill India” and “Clean India Mission”, through sharing of resources and advanced technologies, and active mobilisation of Japanese public and private sector investments.

Recognising the close cooperation in Intellectual Property Rights between the Intellectual Property Offices of the two countries, the two leaders concurred to start a bilateral Patent Prosecution Highway programme on a pilot basis in certain identified fields of inventions in the first quarter of FY 2019.

They welcomed the expansion of Japan’s Foreign Direct Investment in India under the “India-Japan Investment Promotion Partnership”, the progress made in Japan Industrial Townships (JIT) and other initiatives included in the Japan-India Roadmap for Investment Promotion.

With a view to enhancing financial and economic cooperation, Governments of Japan and India welcomed the agreement to conclude a Bilateral Swap Arrangement (BSA) of US$75 billion. With regard to External Commercial Borrowing (ECB), no mandatory hedging will be required for infrastructure ECB of more than 5 years minimum average maturity.

The two leaders shared the intention to further augment cooperation in skill development by expanding the scope and number of Japan-India Institutes for Manufacturing (JIMs) as well as the Japanese Endowed Courses (JEC) in various Indian states. Cooperation in human resource development and exchanges, including through utilising frameworks such as Japan’s “Innovative Asia” initiative, and the Technical Intern Training Program (TITP) will be further promoted, aligning with emerging demands of industry.

Both leaders welcomed the launching of a comprehensive India-Japan Digital Partnership with the vision to develop IoT and AI solutions for societal benefits and explore joint collaboration in emerging technologies by utilizing the “Japan-India Start-Up Hub” in Bengaluru and NASSCOM’s IT corridor project in Hiroshima Prefecture, attracting highly skilled talent and establishing collaboration between their respective industries and institutions.

This will bring about a convergence between India’s flagship programmes such as “Digital India”, “Start-Up India” and “Smart City” with Japan’s “Society 5.0” to promote societal benefits. Both sides will encourage and support the creation of funds to invest in start-ups in India with participation by Japanese stakeholders.

As they strive to provide affordable healthcare to their people, including addressing the challenges such as aging population, both leaders welcome the linking of Japan’s Asia Health and Well-being Initiative (AHWIN) with India’s healthcare initiatives such as Ayushman Bharat, by introducing affordable technology, skill development and best practices in healthcare through reciprocal and mutually beneficial approaches. They will also exchange more information and work towards cooperation in the domain of traditional medicine, including Ayurveda, which, along with Yoga, has a rich history of providing holistic alternative healthcare.

Both leaders also welcomed the progress made by the two sides in taking forward the bilateral cooperation in agriculture, food processing and forestry among various public and private stakeholders which would improve productivity of agriculture and decrease harvest and post-harvest losses.

The two leaders reaffirmed that people-to-people exchanges are at the core of the India-Japan partnership and noted with satisfaction the growing cultural, educational, parliamentary, academic and Track 1.5 engagements, including the “Indo-Pacific Forum”. They also regarded tourism as an area with huge untapped potential and shared views to make efforts to enhance two-way flows, including through further easing of the visa requirements and tourism promotions. Both leaders shared the view to further promote India-Japan partnerships in higher education and empowerment of women, and facilitate academic, youth and sports exchanges.

The collaborative launch of the Japanese Language Teachers’ Training Centre in India will build new bridges between the two peoples. The two leaders underscored the importance of steady expansion of contacts between Indian states and Japanese prefectures.

They reaffirmed their desire to further deepen bilateral security and defence cooperation and institute Foreign and Defence Ministerial Dialogue (2+2), in addition to existing mechanisms, including the Annual Defence Ministerial Dialogue, Defence Policy Dialogue, the National Security Advisers’ Dialogue, Staff-level Dialogue of each service.

Cooperation between India and Japan on defence equipment and technology holds immense scope and potential for strengthening technological capability and industrial infrastructure through joint efforts between the public and private sectors. To this end, both leaders further reaffirmed to promote interaction between Indian and Japanese defence industries and relevant authorities, and also welcomed the commencement of the cooperative research in the area of Unmanned Ground Vehicle (UGV) and Robotics. The two sides will continue to make efforts with regard to cooperation on US-2 amphibian aircraft.

Both leaders reiterated their commitment to promoting the long-term sustainability of outer space activities and decided to launch an Annual Space Dialogue for enhancing bilateral cooperation in outer-space. Both leaders also welcomed the technological collaboration between their respective agencies in the Joint Lunar Polar Exploration Mission.

The two Prime Ministers underlined the importance of their growing collaboration for achieving the Sustainable Development Goals (SDGs). They committed themselves to strengthening environmental partnership in areas such as pollution control, sustainable biodiversity management, chemical and waste management, climate change and waste water management, utilizing the cooperation framework between their relevant authorities. Underscoring the need for concerted global action to combat climate change, in line with the Paris Agreement adopted under UN Framework Convention on Climate Change (UNFCCC), they shared the view to play a leading role in this field and reiterated their commitment to finalising the work programme for implementation of the Paris Agreement and accelerate further consultations for establishing the Joint Crediting Mechanism.

Both leaders reaffirmed their commitment to strengthening cooperation on sustainable and clean forms of energy, including nuclear and renewables; explore possibilities for collaboration in hydrogen-based energy, while also continuing their efforts for cooperation in use of clean coal technology, petroleum and natural gas projects and LNG supply chain and welcomed “Japan-India Energy Transition Cooperation Plan”.

India and Japan will further collaborate in energy efficiency and conservation, energy storage as well as manufacturing of eco-friendly vehicles including hybrid and electric vehicles. The two leaders welcomed the progress of India-Japan consultations on civil nuclear cooperation and decided to continue discussions in this regard. India welcomed Japan’s decision to join the International Solar Alliance as it will strengthen global efforts to promote the deployment of solar energy as a clean, affordable and sustainable energy option.

The two Prime Ministers underscored the importance of enhancing consultation and coordination in regional and multilateral fora and institutions.

They committed themselves to effectively addressing the needs and challenges of our times by promoting sustainable growth and development, economic stability, food and water security, environmental protection, disaster mitigation, counter-terrorism, cyber security, clean energy and science and technology development.

The two Prime Ministers reaffirmed that relations between the two countries have acquired great purpose and substance in recent years. They underscored their mutual trust and deep faith in the maturity of the India-Japan Special Strategic and Global Partnership today and the immense promise it holds for the future of the two countries as they jointly endeavour to build a more secure, peaceful and prosperous region and the world. fiinews.com

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