India and Japan recently conducted the second round of Economic Security Dialogue in New Delhi, focusing on enhancing collaboration in strategic industrial sectors to bolster supply chain resilience. The meeting was co-chaired by Foreign Secretary Vikram Misri and Japan’s Vice Minister for Foreign Affairs Takehiro Funakoshi. Both nations agreed to deepen their partnership in critical areas to ensure supply chain stability amidst economic challenges.
During the dialogue, officials from India and Japan addressed economic security issues such as economic coercion, non-market policies, and overproduction, emphasizing the importance of aligning economic security policies. The discussions also highlighted the outcomes of the Japan-India Private Sector Economic Security Dialogue, which included policy recommendations aimed at fostering cooperation between the two countries.
Furthermore, the dialogue emphasized cooperation in key sectors outlined in the Japan-India Joint Statement, including semiconductors, critical minerals, information and communication technology, clean energy, and pharmaceuticals. Both sides committed to enhancing concrete collaboration in these areas, taking into consideration the inputs from businesses.
In addition to the economic dialogue, the two nations engaged in the Japan-India Foreign Vice-Ministers’ Dialogue, where they discussed regional issues in the Indo-Pacific and the Middle East, with a specific focus on the situation in Iran. The officials agreed to work together to secure energy and resource supplies and strengthen supply chains for essential goods, particularly in light of developments in the Middle East.
The discussions also underscored the commitment to advancing the ‘Japan-India Joint Vision for the Next Decade’ announced during Prime Minister Modi’s visit to Japan, with a strong emphasis on economic growth through investment, innovation, and economic security. Both countries pledged to accelerate cooperation in various sectors, aligning with the vision of a Free and Open Indo-Pacific (FOIP) and the Japan-Australia-India-US (Quad) framework.
