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METI Minister Nishimura Visits Delhi, India

Japanese

July 23, 2023

External Economic Policy

On July 20 (Thur.), 2023, Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, visited Delhi, India, and announced the Initiative for Japan-India Industry Co-Creation during his speech at the Japan-India Deeptech Innovation and Clean Energy Seminar. In addition, he held a meeting with H.E. Mr. Ashwini Vaishnaw, Minister for Railways, Communications, Electronics and Information Technology, and the two ministers signed a memorandum of understanding on a Semiconductor Supply Chain Partnership. Moreover, Minister Nishimura held a meeting with H.E. Mr. Piyush Goyal, Minister of Commerce and Industry, on the evolution of bilateral cooperation under the Initiative for Japan-India Industry Co-Creation and other issues, and a meeting with H.E. Mr. Jyotiraditya Scindia, Minister of Steel, on cooperation to allow the steel industry to develop in a way that is able to strike a balance between economic growth and decarbonization.

1. Release of the Initiative for Japan-India Industry Co-Creation

Minister Nishimura participated in the Japan-India Deeptech Innovation and Clean Energy Seminar, which was co-organized by the Japan External Trade Organization (JETRO), the New Energy and Industrial Technology Development Organization (NEDO), the Federation of Indian Chambers of Commerce and Industry (FICCI), and The Energy and Resources Institute (TERI) of India. During the seminar he announced the Initiative for Japan-India Industry Co-Creation. The initiative aims to make Japan-India industrial cooperation evolve to a new dimension in terms of quality and scope, focusing on three pillars: [i] innovation-based creation of future industries, [ii] evolution of existing industries, and [iii] business development into new markets in Africa and other regions. Together with this, it also demonstrates a policy to enhance structures to conduct the cooperation, including the establishment of an organization for Japan-India industrial cooperation (for details, see the related material below).

At the seminar, about 15 Japanese startups that visited India as a mission along with Minister Nishimura gave pitch presentations and networked with a startup ecosystem in India.

2. Bilateral meeting with Minister Vaishnaw

The two sides exchanged views on Japan-India cooperation in such fields as semiconductors, startups, and digital technology, and concluded the Japan-India Semiconductor Supply Chain Partnership to strengthen Japan-India cooperation for enhancing the resilience of semiconductor supply chains.

3. Bilateral meeting with Minister Goyal

The two sides exchanged views for further enhancement and deepening of Japan-India economic ties, including an industrial cooperation package for the future of Japan and India and the Initiative for Japan-India Industry Co-Creation, which were released at the seminar held on the same date.

4. Bilateral meeting with Minister Scindia

The two sides held discussions on cooperation to make the steel industry develop in a way able to strike a balance between economic growth and decarbonization, and they published the discussion results as a joint press release (Please refer to the related materials below).

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Southwest Asia Office, Trade Policy Bureau

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