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Calling Japan a “key contributor” to India’s economic development, External Affairs Minister S Jaishankar on Tuesday said it is a bilateral relationship of “great trust” and the two countries need to develop “ambitious targets” and work towards realising them.
“In a world under flux, we must deliberate on the urgent need to enhance the quality of our economic cooperation,” the minister said in his virtual address at the 7th India-Japan Indo-Pacific Forum and 10th India-Japan Track 1.5 Dialogue.
Jaishankar spoke of the breadth of the bilateral relationship and said the India-Japan Special Strategic and Global Partnership serves the cause of “regional peace, international stability and global prosperity”.
“It is a bilateral relationship of great trust and growing substance. But precisely because we have come so far in the last decade, it is important that we develop ambitious targets and work towards realising them,” he said.
Japan remains a key contributor to India’s economic development as “we strive to realise the target of 5 trillion-yen investment by 2027”, the external affairs minister said.
“However, trade figures remain below expectations. In a world under flux, we must deliberate on the urgent need to enhance the quality of our economic cooperation,” he said. Jaishankar said “our convergences” are built on the alignment between India’s ‘Act East’ policy, our Indo-Pacific vision of SAGAR (Security And Growth for All in the Region), and Japan’s Free and Open Indo-Pacific Vision, as well as “our shared support” for the ASEAN Outlook on the Indo-Pacific (AOIP).
“We also work together on the Indo-Pacific Oceans’ Initiative (IPOI), where Japan is to co-lead the Maritime Trade, Transport and Connectivity Pillar,” the EAM added.
As New Delhi and Tokyo expand common interests and forge new modes of collaboration, the strategic partnership will progress accordingly, he said.
The forum is being hosted by the Delhi Policy Group (DPG) and the Japan Institute of International Affairs (JIIA).
In his address, Jaishankar also referred to the Industrial Competitiveness Partnership, the Clean Energy Partnership and the Semiconductor Supply Chain Partnership, saying they reflect the contemporary agenda.
“Their goal is to promote reliable and resilient supply chains, trusted digital collaborations and secure green growth. I am confident that we will continue to think bold and act decisively to take it forward in an impactful way,” he asserted.
The external affairs minister also said a greater frequency of defence exchanges and exercises has been seen, “some breaking new ground”.
“Moving to the next level including through defence equipment and technology cooperation is the task that awaits us. We are both members of the Quad and the interactive dynamic between the larger environment and the bilateral relationship is a beneficial one,” Jaishankar said.
However, he pointed out that the “enormous goodwill between our societies is yet to translate into intensive people-to-people connect”.
“There is surely room to grow exchanges in education and tourism, or indeed in the movement of skilled workers. Recent initiatives from the Japanese side hold great promise and we look forward to realising them concretely in the near future,” the minister said.
“Today’s dialogue, friends, provides an opportunity for objective stocktaking and practical strategising on how to achieve the potential of our ties,” he added.
