Japan lays emphasis on furthering trade ties with India

Japan today laid emphasis on different avenues of its bi-lateral trade with India to transform Japan-India Special Strategic and Global Partnership into a deep, broad-based and action-oriented partnership.
"This has reflected a broad convergence of long-term political, economic and strategic goals between the two countries," Masayuki Taga, Consul General of Japan in Kolkata, said here addressing a session on 'Furthering Trade Ties between India and Japan', organised by the Calcutta Chamber of Commerce.
Speaking on the occasion, Taga said "It is obvious that relations between India and Japan have substantially improved and deepened in nearly all fields. As a result of this, Japan has now turned up as the third-largest FDI facilitator into India."

Frequent exchanges at the ministerial level between heads of governments clearly signal India's growing importance for Japan and vice versa, the diplomat said.
In November 2016, Prime Minister Narendra Modi paid an official visit to Japan and had a summit meeting with the Japanese Prime Minister Shinzo Abe.
The diplomat said this summit meeting substantially advanced the "new era in Japan-India relations," and expressed hope that both countries will lead to prosperity and stability in the Indo-Pacific region as a result of the Act East policy.

Taga discussed the importance for "Japan and India Vision 2025 Special Strategic and Global Partnership Working Together for Peace and Prosperity of the Indo-Pacific Region and the World," a joint statement, which will serve as a guide for the "new era in Japan-India relations."

The session was attended by the state's top business leaders, leaders of civil society and senior members of the diplomatic core.
Speaking on the occasion, Calcutta Chamber of Commerce president Dinesh Jain said India's relation with Japan has now expanded to a wide range of areas including foreign policy, defence, trade and investment, science and technology, cultural and people-to-people exchanges.
India is a major recipient of Japanese Official Development Assistance (ODA) and has also attracted significant investment from Japan.
The number of Japanese companies operating in India has also increased from 627 in 2009 to 1,229 in 2016 indicating a significant diversification and strong economic relationship, he added.