Over 150 Japanese companies are backing a $12.5 billion (2 trillion yen) package of initiatives at the Japan-India Annual Summit in New Delhi, according to the Economic Times. The summit, led by Japanese Prime Minister Takaichi and Indian Prime Minister Narendra Modi, aims to deepen bilateral cooperation on security, economic security, and technology.
Summit Overview and Economic Commitments
Japan's Deputy Chief Cabinet Secretary Masanao Ozaki, who arrived in New Delhi with Prime Minister Takaichi, stated on X that over 150 companies will participate in the Japan-India Economic Forum. The initiatives, valued at approximately 2 trillion yen on the Japanese side, are designed to strengthen government-to-government relations in security and economic security, according to a report by The Yomiuri Shimbun cited by Ozaki. Prime Minister Takaichi noted that by uniting government and private sectors, both nations aim to broaden the scope of Japan-India cooperation and realise a strong economy.
Defence and Geopolitical Cooperation
The draft joint statement, as reported by The Yomiuri Shimbun, solidifies last year's accord and calls for "promoting mutually complementary cooperation between Japan and India," with emphasis on economic security. It welcomes the evolution of Prime Minister Takaichi's "Free and Open Indo-Pacific (FOIP)" concept. In defence, the draft appreciates ongoing maritime security collaboration and recognises Japan's April updates to its operational guidelines regarding the transfer of defence equipment. It also schedules a Japan-India Foreign and Defence Ministerial Meeting (2+2) before the end of the year.
| Key Initiative | Details |
|---|---|
| Economic Forum | Over 150 companies participating |
| Investment Value | ~2 trillion yen ($12.5 billion) |
| Ministerial Meeting (2+2) | To be convened before end of 2026 |
| Defence Equipment Transfer | Japan updated operational guidelines in April 2026 |
Rare Earth and Energy Security
Addressing recent export curbs on rare earth elements by China, the document explicitly notes deep apprehensions regarding nonmarket policies and economic coercion. On energy, both nations pledge to bolster supply integrity through joint stockpiling initiatives. The draft also emphasises support for small and medium-sized enterprises entering the Indian market and backs improvements to India's domestic business environment.
Technology and Infrastructure Collaboration
The draft underscores that "promoting innovation, including AI, is extremely important in further expanding the foundation for cooperation." It advocates for cooperation on bringing JR East's developing E10 series Shinkansen train to India. Prime Minister Takaichi arrived in New Delhi on Wednesday for her inaugural official visit to India since taking office, and she highlighted regional security, particularly in the context of the Indo-Pacific, would feature prominently in discussions with Prime Minister Modi.
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