In this article, we will discuss State of India’s Relations with Japan. So, let’s get started.
State of India’s Relations with Japan
- Defense Ties: India-Japan Defence and Security partnership has evolved over the years from bilateral and multilateral exercises including Dharma Guardian and Malabar respectively. And welcoming the participation of Japan for the first time in exercise MILAN.
- Tri-Service Exchanges between Japan and India have been institutionalized completing the triad. Coast Guards have had regular annual exchanges since 2006. Including, Japan and India Vision 2025 Special Strategic and Global Partnership – working together for peace and prosperity of the indo-pacific region and the world.
- Economic Ties: A test of the reliability of Japan as a friend was witnessed in 1991 when Japan was among the few countries that bailed India out of the balance of payment crisis.
- In recent years, the economic relationship between Japan and India has steadily expanded and deepened. The volume of trade between the two countries has increased. Japan was the 12th largest trading partner for India in 2020.
- Also, direct investment from Japan to India has increased, and Japan was the 4th largest investor in India in FY2020.
- Health-Care: In view of the similarities and synergies between the goals and objectives of India’s AYUSHMAN Bharat Programme and Japan’s AHWIN, both sides had been consulting with each other to identify projects to build the narrative of AHWIN for AYUSHMAN Bharat.
- Investment and ODA: India has been the largest recipient of the Japanese Official Development Assistance(ODA) Loan for the past decades. Delhi Metro is one of the most successful examples of Japanese cooperation through the utilization of ODA.
- India’s Western Dedicated Freight Corridor (DFC) project is funded by a soft loan provided by Japan International Cooperation Agency under Special terms for economic partnership (STEP).
- Besides, Japan and India had committed to build a High-Speed Railways in India by introducing Japan’s Shinkansen System.
- India Japan Nuclear Deal 2016 will help India build the six nuclear reactors in southern India, increasing nuclear energy capacity ten-fold by 2032.