Tokyo [Japan], August 31 (ANI): Prime Minister Narendra Modi’s go to to Japan has opened a brand new chapter in India-Japan collaboration in superior expertise sectors, with a specific give attention to semiconductors.
Speaking to ANI, Kazuya Nakajo, Executive Vice President of the Japan External Trade Organisation (JETRO), underlined the alternatives for partnership between the 2 nations.
‘Prime Minister Modi visited one of many main firms of Japan within the semiconductor area, Tokyo Electron, a producer of wafers and such. This is the mom of a semiconductor firm,’ Nakajo stated, highlighting Japan’s strengths.
He famous that Japan is taking a lead in manufacturing semiconductor equipment and likewise the fabric facet, and emphasised that the nation has dedicated to manufacturing in India.
Nakajo stated the timing of the go to was vital.
‘This was the very first thing after 2018. So it has been a seven-year hole. There was COVID and such in between. But this can be a excellent time for Japanese businessmen to create confidence towards India,’ he stated.
During his go to, Prime Minister Modi has emphasised constructing a stronger expertise base at house.
‘PM introduced that they put extra focus in new expertise, superior manufacturing, and semiconductor will take the important thing function on that,’ Nakajo stated.
Regarding India’s challenges in constructing a semiconductor ecosystem, Nakajo highlighted the nation’s heavy dependence on imports.
‘There was an enormous concern that India has been dependent closely on digital manufacturing from international nations. Actually, one-third of Indian semiconductor imports have been taken by China. So Prime Minister Modi has created a brand new coverage to create a extra resilient provide chain and a self-reliant nation within the manufacturing sector, superior manufacturing sector,’ he defined.
He additionally famous the expansion in semiconductor-related investments.
‘From 2017 to 2020, in these 4 years, there have been 22 investments made in semiconductors to India, and from 2021 to 2024, it has elevated to 58. So this progress is as a result of the market prospect of India may be very massive, and the opposite factor is India confirmed their standpoint as a pleasant nation to Japan,’ he stated.
Nakajo stated Japan’s world function in semiconductors may prolong to India as effectively.
‘Fifty per cent of semiconductor supplies and one-third of the worldwide equipment have been provided by Japan. So Japan is a key nation to create that type of provide chain and semiconductor business itself. We’ve been contributing to the U.S., we have been contributing to China, we have been contributing to Taiwan and Korea. So we will do extra for India to create a semiconductor business,’ he said.
He additionally referred to current agreements signed between the 2 international locations.
‘This time, much more diversified enterprise sectors could be seen. For instance, there are some in semiconductors, there are some in AIs, there are some in educational collaboration in quantum, and there are some within the house area. So I can see extra sorts of mature collaboration, extra high-tech collaboration, extra educational collaboration between these two nations,’ he stated.
‘This is reflecting the world’s new pattern to create sturdy provide chains in these superior expertise areas, which ought to be the engine for additional financial growth for each international locations, particularly for India.’
Nakajo acknowledged that Japan was comparatively late in tapping India’s expertise pool.
‘Europe has been attempting to draw new Indian expertise within the final 20 years. America has been there for 3 or 4 a long time. Japan has simply began. But we attempt to create extra type of a livable society for Indian nations and attempt to create a extra good dwelling surroundings for them,’ he stated, including that ‘many Japanese firms are beginning to take into account creating a worldwide creation heart in India,’ he stated.
According to him, such initiatives will strengthen mutual trade.
‘These are type of each mutual trade shall be anticipated within the subsequent few years,’ he concluded.
PM Modi concluded his two-day go to to Japan on Saturday, describing it as ‘productive’ and highlighting the constructive outcomes achieved throughout his engagements.
He expressed gratitude to Japanese Prime Minister Shigeru Ishiba for the heat prolonged to him throughout the go to.
In a put up on X, he stated, ‘This go to to Japan shall be remembered for the productive outcomes which is able to profit the individuals of our nations. I thank PM Ishiba, the Japanese individuals and the Government for his or her heat.’ (ANI)