Strengthening India-Japan Ties: 48th Annual Meeting of IJBCC Focuses on Strategic Partnerships

48th Annual Meeting of the India-Japan Business Cooperation Committee (IJBCC) was organised by FICCI, in partnership with the Japan Chamber of Commerce and Industry (JCCI) on 6th March 2025 at FICCI, Federation House, New Delhi. The event was held under the overarching theme 'Building India-Japan Strategic Partnerships for Industrial Growth and Regional Development.'

India-Japan Business Cooperation Committee (IJBCC) was organised by FICCI, in partnership with the Japan Chamber of Commerce and Industry (JCCI) on 6th March 2025

Over the years, IJBCC became a key institutional mechanism for promoting investment opportunities and collaboration between India and Japan. Established in 1966, the committee aimed to stimulate bilateral trade, investment, and technological transfers through sectoral consultations. The Joint Meetings complemented the efforts of both governments in strengthening economic ties.

The committee was co-chaired by Onkar Kanwar, Past President of FICCI & CMD of Apollo Tyres Ltd. from India, and Tatsuo Yasunaga, Chairman of the Japan-India Business Cooperation Committee and Representative Director & Chairman of the Board of Directors of Mitsui & Co. Ltd. from Japan.

Keiichi Ono, Ambassador of Japan to India addressed India-Japan Business Cooperation Committee (IJBCC) on 6th March 2025

Keiichi Ono, Ambassador of Japan to India while addressing the meeting said that "To further India-Japan Economic Partnership, we need to have more deeper cooperation in people-to-people exchange. This deeper exchange of people is required from both sides. Japanese population is fast ageing, and Japan needs skillful people for its industry from India. 

Ambassador ONO mentioned that many Japanese companies would also like to have greater involvement of their Japanese manpower here in India for certain operations. India is now the centre of economic growth in the world. He added that we need to have more ambitious targets for engagements between the public and private sectors and further foster people-to-people relationships for strengthening economic engagement between India and Japan. 

With around 1500 Japanese companies currently present in India, both sides felt the need for increasing this number manifold especially with Japanese MSMEs in coming years, noted Ambassador Ono.

At the meeting, Gaku Yoda, Deputy Director General of METI (Japan), highlighted the significance of collaborating with India to develop the necessary frameworks that would facilitate the expansion of Japanese companies into the African region, which holds substantial growth potential. He emphasized that Japan aims to encourage investment by its companies in India while establishing business bases to enhance bilateral trade with various African nations.

He further noted that the target of 5 trillion yen in public and private investment from Japan to India, set in 2022, is close to being achieved, with 3.8 trillion yen already secured within the first two years. Additionally, he mentioned that METI has allocated approximately 1.5 billion yen (USD 10 million) for a budget program focused on industrial human resource exchange with India, sourced from the budget for the Global South.

Jyoti Vij, Director General of FICCI, reaffirmed that Japan remains a key economic and geopolitical partner for India. She emphasized FICCI’s pivotal role in fostering India-Japan relations through its comprehensive agenda, complementing the efforts of both governments.

"I extend my sincere gratitude to Ficci and JCCI for their efforts in organizing this important event. This meeting provided an excellent platform for strengthening economic collaboration between Japan and India." mentioned Ambassador ONO. He added, "Such dialogues are pivotal in deepening our bilateral economic partnership, and I look forward to continued engagement with key stakeholders".