Asian duo Japan and India Strengthen Supply Chains Together

Source: dpa | Translated by AI 1 min Reading Time

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In view of the tense global situation, India and Japan want to strengthen their cooperation on energy and economic security ...

During the visit of Japanese Prime Minister Sanae Takaichi to India, both countries agreed on a strategic agenda. Learn more about it here ...(Image:  M. Tokeda)
During the visit of Japanese Prime Minister Sanae Takaichi to India, both countries agreed on a strategic agenda. Learn more about it here ...
(Image: M. Tokeda)

On the occasion of Japanese Prime Minister Sanae Takaichi's first visit to India, both countries have now decided on a strategic agenda, it is reported. The joint roadmap for economic security is intended to enhance resilience with regard to supply chains in strategic areas. This includes sectors such as semiconductors, quantum technology, and advanced materials, as Indian Prime Minister Narendra Modi announced in New Delhi. Over the past decades, Japan has become a key partner for India, ranging from automobiles to electronics, Modi said.

Around 1,000 New Plants for Biogas and Fertilizer

Regarding energy security, Japan and India agreed on a joint initiative to construct 1,000 facilities for biogas and organic fertilizers in India. To better prepare for challenges such as oil crises, India stated that cooperation on the strategic storage of crude oil and oil products would be expanded, including corresponding reserve mechanisms. Both sides also signed cooperation agreements in areas such as artificial intelligence, defense, and healthcare.

India Hopes for Tens of Billions in Japanese Investments

Both Asian countries, which incidentally belong to the group of the ten strongest economies, appear to attach great importance to their relations. India, also the world's most populous country, hopes to generate ten trillion yen (approximately 54 billion euros / $58 billion) in investments from Japan over the next ten years. Additionally, the number of Japanese companies operating there is expected to double. Over 1,400 Japanese companies are already active in India, predominantly in the manufacturing sector.

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