New Delhi, May 11: India and Japan held the second round of the Economic Security Dialogue in New Delhi on Monday. The two nations agreed to enhance cooperation in strategic industrial sectors to strengthen and make supply chains more reliable.
The meeting was co-chaired by Foreign Secretary Vikram Misri and Japan’s Deputy Minister for Foreign Affairs, Takehiro Funakoshi.
Foreign Ministry spokesperson Randhir Jaiswal shared on social media platform X, stating, “Foreign Secretary Vikram Misri co-chaired the second round of the India-Japan Economic Security Dialogue with Japan’s Deputy Minister for Foreign Affairs Takehiro Funakoshi and Deputy Minister for International Affairs at the Ministry of Economy, Trade and Industry, Takehiko Matsuo. Both sides agreed to enhance cooperation in strategic industrial sectors to strengthen supply chains.”
During the meeting, officials from both countries exchanged views on challenges related to economic security, including economic pressures, non-market policies, and overproduction issues. They also discussed their respective economic security policies.
A statement from Japan’s Foreign Ministry noted that representatives from the Japan Business Federation, Japan External Trade Organization, and Confederation of Indian Industry participated at the start of the meeting. They discussed the outcomes and suggestions from the Japan-India private sector economic security talks held on March 26.
Both countries focused on five key areas outlined in the joint statement issued last August, including semiconductors, critical minerals, information and communication technology, clean energy, and pharmaceuticals. They emphasized advancing solid cooperation in these sectors, considering the needs of the business community.
Additionally, discussions took place between the Deputy Foreign Ministers of India and Japan regarding the Indo-Pacific region and the situation in the Middle East, particularly concerning Iran. Both nations agreed to enhance cooperation in securing energy and essential resources and strengthening supply chains for critical goods in light of current circumstances.
Japan’s Foreign Ministry stated that both countries agreed to further strengthen partnerships across various sectors under the “Japan-India Joint Vision for the Next Decade,” announced during Prime Minister Modi’s visit to Japan last August. They also emphasized accelerating economic growth through investment, innovation, and economic security, with collaboration from both government and private sectors.
Deputy Minister Funakoshi provided insights on the recently announced “Free and Open Indo-Pacific (FOIP)” initiative by Prime Minister Sanae Takaichi. Both nations agreed to enhance cooperation in this direction, including collaboration under the Quad group comprising Japan, Australia, India, and the United States.
The parties also shared views on the situation in the Indo-Pacific and the Middle East, particularly concerning Iran, agreeing to work together to secure and strengthen supply chains for energy, resources, and essential goods amid current conditions.
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