March 22, 2021
On March 17 (Wed.), 2021, the Ministry of Economy, Trade and Industry (METI) and the Ministry of Commerce and Industry (MCI), India, jointly held the Symposium on Japan-India Partnership in Industrial Competitiveness via video conference.
1. Opening remark: “Japan-India collaboration toward 'Atmanirbhar Bharat (self-reliant India)’”
At the beginning of the symposium, Mr. Tanaka Shigehiro, Vice-Minister for International Affairs, METI, delivered a speech on Japan’s cooperative activities towards [i] development of business environments, [ii] human resource development, and [iii] connection with global supply chains.
2. Keynote speech: “Future visions and policies upheld by the government of India to attract investments”
Following the opening remark, Mr. Mohapatra, Secretary, MCI, explained India’s future visions and policies for attracting foreign investment, including the Production Linked Incentive Scheme (PLI) that India has been advancing.
3. Presentation 1: “Approaches to achieving ‘Self-Reliant India’”
Nomura Research Institute Consulting and Solutions India (NRI India) made a proposal for step-by-step approaches to enhancing competitiveness as an effort for enhancement of industrial competitiveness: upholding realistic targets, improving both tangible and intangible infrastructures, and avoiding protectionism to secure a global linkage in industries.
4. Panel discussion
Title: Participation in global supply chains and measures for enhancing international competitiveness
A panel discussion was held, moderated by Mr. Onodera Osamu, Deputy Director-General for Trade Policy, METI, and participants expressed the following opinions.
- The PLI should be utilized to advance efforts for diversification of supply chains.
- Companies increasing profits in India place eyes on exports. Development of infrastructures is indispensable for encouraging India to participate in global supply chains.
- India needs to reconstruct the banking sector, addressing issues such as bad loans, an obstacle to India’s industrial development. Moreover, tariff increases which may drive India to protectionism raise concerns over negative impacts on the development of the manufacturing industry in India.
- Japanese and Indian companies are able to build a complementary relationship through making use of Japan’s production management and other practices and India’s human resources, etc.
5. Presentations 2: “Promotion of the ‘Make in India’ policy”
The Confederation of Indian Industry (CII) presented comprehensive explanations of the current situations of India’s industries and industrial policies and showed its expectations for Japanese companies’ investments in India.
6. Closing remark: “Toward future cooperation between Japan and India”
As a closing remark, H.E. Ms. Mona Khandhar, Minister, Embassy of India in Tokyo, delivered a speech on: India’s intention to advance cooperation with Japan bearing in mind differences in business practices between Japanese and Indian companies, its provision of measures for supporting Japanese companies in investments, and its expectations for Japanese SMEs’ investments in India. Following this, H.E. Mr. Daura, Assistant Secretary, MCI, delivered a speech on India’s expectations for Japan-India collaboration taking advantage of the PLI in the post-corona era.
Division in Charge
Southwest Asia Office, Trade Policy Bureau