Japan and India Seal 129 MoUs to Boost Economic Ties

Japan and India have entered into 129 memorandums of understanding (MoUs) at their Joint Economic Forum, deepening ties in sectors like advanced technologies, clean energy, and semiconductors. The forum highlighted Japan's growing investments in India, with over USD 12 billion in the past year.

At the Japan-India Joint Economic Forum, Japan announced 129 new memorandums of understanding (MoUs) with India, marking a significant step in strengthening the economic partnership between the two nations. The agreements, announced in the presence of Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi, focus on investments in advanced technologies, clean energy, and semiconductors.

Japan External Trade Organization (JETRO) Chairman Ishiguro Norihiko emphasized the growing business confidence among Japanese firms in India, noting that over 80% are planning to expand locally. This confidence is reflected in a sharp investment increase, reaching about 2 trillion yen (USD 12.4 billion) in the past year alone.

The forum also highlighted India's strategic importance in Japan's long-term economic plans. Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee, underscored the potential of combining Japanese technology with India's growth, aiming for broader economic growth that extends beyond Asia to regions like Africa and the Middle East.