New Delhi - During the India-Japan Forum held in New Delhi, External Affairs Minister Dr. S Jaishankar praised Japan for its significant contributions to various revolutions in India, such as the Maruti and Metro projects, which had a profound ripple effect on the country. He also emphasized the potential of high-speed rail and emerging critical technologies to offer numerous opportunities for both nations.

The forum was attended by Japan's Foreign Minister, Yoshimasa Hayashi, who expressed Japan's desire for further cooperation and requested India's support in providing a stable business environment. Prime Minister Kishida of Japan set a target of 5 trillion Yen for public and private investment and financing from Japan to India over the next five years starting from 2022. Japan is keen to address the challenges that Japanese companies face in the Indian market and aims to work collaboratively with the Indian government to tackle these issues effectively.

The discussions between the two ministers covered a wide range of topics, including G20, the Indo-Pacific, Ukraine, China, defense partnerships, and a focus on the North-East region. India and Japan are looking into collaborations in critical technologies and semiconductors, given Japan's significant impact on manufacturing in India. The impact of the conflict in Ukraine on the world was also a topic of discussion, with both nations emphasizing the importance of leading the world towards cooperation rather than division and confrontation. They highlighted the necessity of upholding a free and open international order based on the Rule of Law.

Japan expressed its desire for a more predictable and transparent business environment in India, including addressing tax and infrastructural challenges. Both nations intend to continue efforts to build quality infrastructure in India, with a focus on high-speed rail and urban transportation. Discussions also revolved around enhancing trade and defense ties, particularly in the Indo-Pacific and North-East regions.