India Japan Trade

Recent Trends & developments

• In 2023, Foreign Minister, Mr. Yoshimasa Hayashi mentioned that 2023 is a crucial year as Japan chairs G7 and India chairs G20. As the premier forum for international economic cooperation, G20 is of paramount importance for responding effectively to issues facing the international community, such as food security and development. As the G7 President, Japan wishes to coordinate closely with the G20 President, India.
• In 2022, the two countries will celebrate the 70th anniversary of the establishment of diplomatic relations.
• As part of celebrations for India@75 and India-Japan@70, an India-Japan webinar on “Exploring Tamil Nadu and its Potential Agricultural & Processed Food Products” was jointly organized by the Embassy of India, Japan and Agricultural and Processed Food Products Export Development Authority, India (APEDA) on February 7, 2022, to promote the business opportunities in Agri and Food processing sector from Tamil Nadu among the companies in Japan.
• Japan-India Foreign Ministers’ Meeting was held on February 11, 2022, wherein it was reaffirmed to promote economic cooperation including in digital, climate change countermeasures, healthcare, as well as economic security cooperation in fields such as Beyond 5G, undersea cables, and supply chain resilience, in addition to cooperation in India’s North-eastern region and steadily advancing the High-Speed Rail Project, the flagship project of Japan and India. Moreover, views on cooperation in regional affairs such as Myanmar and international cooperation including WTO, disarmament and non-proliferation, and UN Security Council reform were also exchanged.
• In March 2022, Prime Minister of Japan visited India for the first time in four and a half years as Prime Minister of Japan. In May 2022, Prime Minister Modi visited Japan for the Japan-Australia-India-U.S. Summit Meeting held in Japan. The two leaders concurred to further develop Japan-India relations and work closely toward the realisation of a “Free and Open Indo-Pacific”.
• The 7th Joint Working Group under India-Japan ICT Comprehensive Cooperation Framework was held on May 13, 2022, through hybrid mode.
• The Fourth Japan-India Cyber Dialogue was held virtually on June 30, 2022. Areas of discussion included national cyber policies and cybersecurity strategies, the recent cyber threat landscape, ICT supply chain risks and 5G policies. Both sides also discussed bilateral cooperation in the field of capacity building as well as cooperation under the UN, QUAD (Japan-Australia-India-U.S.) and ASEAN Regional Forum.
• Second Japan-India 2+2 Foreign and Defence Ministerial Meeting was held on September 8, 2022. The Ministers discussed regional and global affairs, bilateral security and defence cooperation, and coordination among like-minded countries, bearing in mind Prime Minister Mr. Narendra Modi’s possible future visit to Japan as part of the annual mutual visit by the leaders. In view of their respective presidencies of the G7 and G20 next year, they confirmed that both countries will work closely to lead the international community.
• Agreement between the Government of Japan and the Government of the Republic of India Concerning Reciprocal Provision of Supplies and Services between the Self-Defense Forces of Japan and the Indian Armed Forces (2021).
• During 2021-22, the Embassy of India, Japan in association with the Japan Tea Association (JTA), Tea Board of India organized the 223rd and 224th Indian Tea Seminar called “Chai-Varta” in the month of July 2021 and October 2021 respectively. A webinar titled “Festival of Indian Tea” was also held on February 15, 2022. The objective of these events is to promote Indian tea in Japan and to increase collaboration among Indian and Japanese companies in the Tea sector.
• The two countries signed a Memorandum of Cooperation (MoC) on specified skilled workers in January 2021 to promote the movement of skilled workers from India to Japan for employment on a contractual basis.