India, Japan look to deepen economic security ties as LDP delegation meets Foreign Secretary

India and Japan have underlined the need for a more intensive economic security partnership and resilient supply chains amid rapid changes in the global economic and geopolitical landscape, as a delegation of Japanese parliamentarians held talks with Foreign Secretary Vikram Misri.

The delegation from Japan’s ruling Liberal Democratic Party (LDP), led by Taro Kono, Director General of the party’s International Bureau and a former foreign and defence minister, met Misri Monday as part of a five-day visit to India under the India-Japan Distinguished Visitors Programme.

The two sides held “productive” discussions on maintaining the momentum in bilateral relations across defence, economic security, supply-chain resilience, trade and investment, technology, innovation and people-to-people ties, the Ministry of External Affairs said Tuesday.

Economic security focus

The Japanese delegation included Kenji Nakanishi, Deputy Chairperson of the LDP Policy Research Council; Karen Makishima, Acting Director of the LDP International Bureau and Deputy Chair of the Committee for the Promotion of a Digital Society; and Sakon Yamamoto.

During their visit, the lawmakers took note of India’s deep-tech entrepreneurship, research and innovation ecosystem and discussed the opportunities emerging from the country’s economic expansion and manufacturing capabilities.

With both countries looking to reduce vulnerabilities in critical supply chains, the discussions focused on the need to expand cooperation in economic security. India and Japan have increasingly sought to strengthen supply chains in strategic sectors against the backdrop of geopolitical uncertainty and disruptions to global trade.

The two sides also underlined the importance of the India-Japan Special Strategic and Global Partnership as an anchor for peace and stability in the Indo-Pacific, citing political trust, mutual goodwill and a shared strategic outlook.

They stressed the need to quickly expand the scope and depth of bilateral engagement in line with the directions set by Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi during their 16th Annual Summit.

Defence ties expand

MEA spokesperson Randhir Jaiswal said India’s relationship with Japan covered an increasingly broad portfolio and that economic security was among the important areas discussed with the visiting lawmakers.

“With Japan, we have an expansive portfolio and all aspects of this relationship, including economic security partnership that both countries have forged, were discussed,” Jaiswal said at his bi-weekly media briefing.

He also pointed to expanding defence cooperation, including joint military exercises between the two countries.

“On the defence side also we are doing well, we have joint exercises. All in all, it is such conversations and dialogue which give further boost to the Special Strategic and Global Partnership the two countries enjoy among themselves,” he said.

Defence and strategic cooperation has emerged as an increasingly important pillar of the relationship as India and Japan deepen engagement in the Indo-Pacific and seek greater coordination on maritime and regional security.

Investment target on track

Jaiswal also expressed confidence over progress towards Japan’s target of investing 10 trillion yen, or around Rs 7 lakh crore, in India over a decade.

“On that, there is progress,” he said, adding that a large number of Japanese companies had already invested in India and that further investments were underway.

“We are very certain, we are very optimistic about more Japanese companies coming to invest in India in critical sectors,” Jaiswal said.

He cited Commerce and Industry Minister Piyush Goyal’s visit to Japan with a business delegation earlier this year and said the response demonstrated both investor interest and progress on the ground.

The MEA said the latest political-level engagement was expected to reinforce cooperation as India and Japan seek to deepen economic, technological and strategic ties while building more resilient supply chains.