Imperative To Deepen Cooperation Between India-Japan As Special Strategic Global Partners: Former Japan PM Yoshihide Suga

HE Mr Yoshihide Suga, Former Prime Minister of Japan today said that India and Japan share fundamental values and as the international situation becomes increasingly severe, it is further important to deepen cooperation between India and Japan as special strategic global partners.

Addressing the ‘FICCI Forum of Parliamentarians Interaction with Former PM of Japan and Delegation of ‘Ganesha’ Group of MPs from Japan’, HE Mr Suga said that he will be happy to get suggestions on how the Members of Parliament from both countries can work together to improve the bilateral trade and business opportunities.

Former Prime Minister of Japan expressed hope that the ‘Ganesha’ delegation visiting India will give further momentum to India-Japan relationship and will serve as an opportunity to further strengthen the business engagements.

Mr Sushil Kumar Modi, MP Rajya Sabha, BJP (Bihar) and Chair, FICCI India-Japan Forum of Parliamentarians said that last year we celebrated 70th anniversary of diplomatic relations between India and Japan. “Japan is the 5th largest FDI investor in India and between April 2000 to September 2022, we received FDI equity inflows worth $ 38.12 billion which is 6 per cent of the total inflows received,” he added.

Emphasizing on the potential of India Start-ups, Mr Modi stated that Japan ranks 5th in investing in Indian Start-up with a total investment of $ 50 billion received over the last 5 years and funded 165 Indian Start-ups through venture capital and private equity investment. “Key Japanese companies have today become household name in India. The relationship between India and Japan is strengthening with investments in Mumbai Bullet train project, Make in India project along with various investments at state level as well,” he added.

Mr Subhrakant Panda, President, FICCI said that Japan is synonymous with technology and quality while India is seen as the next engine of global growth with a large, unified domestic market. “Collaboration on various pillars such as trade, supply chains, and clean economy holds a lot of potential. In a world fraught with instability due to geopolitical developments, bilateral ties between India and Japan stand out for their genuine warmth and solidity. Partnership between the two countries is not just mutually beneficial but will help the world at large,” he added.

Mr Shailesh K Pathak, Secretary General, FICCI moderated the interaction session with the Former Prime Minister of Japan along with the delegation of ‘Ganesha’ group of MPs from Japan.

Mr Harsh Pati Singhania, Past President, FICCI and Dr Jyotsna Suri, Past President, FICCI and Co-Chair, FICCI Forum of Parliamentarians also shared their perspective and emphasized on the need to further strengthen the trade between India and Japan.