‘The time has come for India and Japan to build a strong contemporary relationship, one involving global and strategic partnership that will have a great significance for Asia and the world as a whole.’ Comment.

(1) Japan is India's part of top 5 trading partners. (2) Two countries have Civil Nuclear Deal (3) Cultural contacts date to ancient times

Emerging areas of cooperation

(1) Japan can support India's efforts of rapid transport and bullet train systems.

(2) Japan has strong secondary sector and India a strong tertiary sector. Together both economies complement each other.

(3) Japan has an ageing population and India possess a rich demographic dividend.

Together both the countries complement each other. (4) Japan and India are both part of Supply Chain Resilience Initiative to decrease dependence on China. (5) Both the countries are cooperating for a mission on moon in the space sector. (6) Both the countries are part of QUAD to counter China's aggression in Indo-Pacific. (7) Japan's Free and Open Indo-Pacific, is in tune with India's Act East policy. (8) Japan is a potent source of foreign investment for India, because Japan recently pledged 50bn $ in Indo-pacific. (9) India can learn disaster management practices from Japan.

Challenges in relationship

(1) Both countries have very low trade as against the trade potential. They lack effective free trade agreement.

(2) India recently pulled out of RCEP that could have strengthened economic integration.

(3) Japan and India have different perspectives of Indo-Pacific Region.

(4) Japan is not happy with India's stance and silence on Russia-Ukraine war.

Way forward

(1) More integration of defence level like Shinyu Maitri exercise.

(2) Signing of early harvest agreement and follow with FTA.

(3) Cooperation on various global supply chain lines, semiconductors, automobiles etc.