Japan and india economic relationship

India-Japan Strategic Partnership and the MultipowerOrder

japan and india economic relationship

In the last decade, the strengthening of the India-Japan strategic in driving the India-Japan relationship, including in its economic dimension. trial Corridor) to transform the nature of the economic relationship between India and Japan. The paper concludes by noting the complementarity in population. The friendship between India and Japan has a long history rooted in spiritual A transformational development in the economic history of India was Suzuki Motor and the relationship was upgraded to a Global and Strategic.

However, it was only in that Prime Minister Shinzo Abe eased restrictions on defence exports.

japan and india economic relationship

Nonetheless, a true strategic partnership mandates closer defence equipment and technological cooperation. Even prior to the visit, the Japanese leadership has stated that they are looking forward to participating in the Chinese Belt and Road Initiative BRI.

India-Japan Strategic Partnership and the MultipowerOrder

The evolving Japanese accommodative stance towards BRI seems to be a consequence of four factors. Second, the participation of some Japanese companies in BRI projects albeit on a low-key and their desire for enhanced participation in Chinese initiatives. Third, the need to insulate Japan from a negative fallout of US-China trade war. Fourth, growing perception of unpredictability in the US foreign policy under President Trump, and his preference for quick bilateral negotiations instead of multilateral conversations.

EconPapers: Japan-India Economic Relationship: Trends and prospects

Nonetheless, there is also recognition in New Delhi that it would be unwise to indulge in hasty pronouncements till there is clarity as to whether the statements on BRI by Japanese leaders constitute a mere short-term tactical shift or if they amount to a long-term strategic shift. From the perspective of some Japanese scholars, India is also working to improve the relationship with China as was evident during the Wuhan Summit earlier this year.

The Diplomacy Show: India Japan Relationship

Hence, there is no need to see the Japan-China and India-Japan bilateral relationships in zero-sum frameworks. These developments point to the fact that the international politics is not witnessing the return of a new Cold War, with China and other democratic countries locked in a gladiatorial conflict.

Japan-India Economic Relationship: Trends and prospects

We are in a multipower order and countries are constantly exploring the economic benefits in their interactions with each other. Therefore, in the interest of maintaining the stability of the multipower order, India and Japan should clearly define as well as communicate their interests and responsibilities with each other.

japan and india economic relationship

The views expressed here are personal. Views expressed above are the author's own. Blog Columns, in-depth analyses and the big-picture view on all contemporary issues having economic, financial and political ramification.

japan and india economic relationship

Author Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. For example, India and Japan are trying to pool their resources in Sri Lankawhere China has already stolen a march over both of them.

Then there are projects like the Asia-Africa Growth Corridor. Widening Gap Between Promise and Delivery However, in spite of the best efforts by both the sides, the pace of India-Japan relations has remained steady at best.

japan and india economic relationship

For example, there has not been much progress in the field of defense cooperation, especially with regards to the sale of aircraft like the US2i, though the Indian private sector firm Mahindra has inked an MoU with the Japanese firm ShinMaywa. In addition, it seems both New Delhi and Tokyo also want to keep their ties with Beijing intact.

japan and india economic relationship

On the one hand, Japan has signaled that it is willing to cooperate with China on a case-by-case basis when it comes to the Belt and Road Initiative. On the other hand, when Australia signalled its willingness to join the India-Japan-U. Malabar naval exercises, India did not seem too keen.

In the field of economic ties too, bilateral trade levels have remained abysmally low. The total bilateral trade in the financial year was only USD Hence, in order to turn the potential of the relationship into concrete results, both prime ministers will have to bite the bullet, as they say.