Japan, India Hold Talks on Economic Security Cooperation

Reuters
The Indian national flag flutters ahead of the country’s general election, in New Delhi, India, April 16, 2024.

New Delhi, Dec. 11 (Jiji Press)—Around 50 government officials, researchers and others from Japan and India held a meeting in New Delhi to discuss the promotion of economic security cooperation between the two countries.

At the meeting on Wednesday, hosted by the Observer Research Foundation, an Indian think tank, participants confirmed the importance of setting up supply chains spanning the two countries for the procurement of strategic materials such as semiconductors and rare earth minerals.

Japan and India share the common challenge of diversifying their supply chains, as both have been affected by China’s rare earth export restrictions and the protectionist high tariff policy of U.S. President Donald Trump’s administration.

Japanese Ambassador to India Keiichi Ono, who participated in the meeting, emphasized that Japan and India share the same destiny and must work together. He added that deepening private-sector ties, not just government-to-government relations, is essential to realize the agreement reached at the August Japan-India summit on bilateral cooperation in semiconductor and other fields.

Also at the meeting, a senior official of an Indian unit of Japanese electronics maker NEC Corp. said that the company is working with the Indian government to lay undersea cables that are important for economic security. An official of the Japan Science and Technology Agency introduced initiatives to support joint research between Japan and India.