Indian Ambassador Seeks ‘Quantum Leap’ in Economic Ties, Predicts Powerful Synergy From Combining Nations’ Strengths

The Yomiuri Shimbun

15:37 JST, September 19, 2024

Indian Ambassador to Japan Sibi George expressed strong hope for the rapid strengthening of economic ties with Japan and the creation of powerful economic synergy between them, at a lecture meeting organized by the Yomiuri International Economic Society on Wednesday.

“We need a quantum leap, not incremental progress … in our relationship,” as the two nations look to further strengthen economic and business ties, George said.

In his keynote speech themed “Business in India: Today and Tomorrow,” the ambassador hailed India’s recent economic development, saying his nation has “distinguished itself as an important country among global economies, demonstrating remarkable GDP growth rate of over 8% even after COVID.” He identified India’s young and skilled workforce as one of its strengths.

With India’s current economic landscape in mind, George described Japan as “not just a partner, but a very important collaborator.” He predicted a “powerful synergy” would be created when Japan’s technological advantages are combined with India’s vast market and skilled workers.

In areas including renewable energy, semiconductors and manufacturing, “the blend of India’s demographic assets and Japan’s technological expertise is an ideal formula for groundbreaking advancements,” he said. As for future cooperation, George urged that possibilities be explored in advanced manufacturing, robotics, artificial intelligence and sustainable technologies.

“Together, we can redefine global standards in various industries and create solutions that would benefit not only our nations but the entire world,” he said.

As a specific goal, the ambassador emphasized the need to increase the number of Japanese companies that open businesses in India from the current 1,500 to 15,000 in a “quantum leap.” In particular, he expressed interest in bringing in small and medium-sized Japanese companies.

Following the keynote speech, Tatsuo Yasunaga, representative director of Mitsui & Co., and Toshihiro Suzuki, representative director of Suzuki Motor Corp., participated in a discussion with the ambassador.

The three discussed the importance of human resource development and exchange between both countries. The ambassador talked about India’s goal to increase its skilled workers in the semiconductor sector and expressed hope that India could work with Japanese companies to address the need for semiconductor engineers.