India-Japan Joint Vision: India and Japan, as two countries with a common vision of a free, open, peaceful, prosperous, and coercion-free Indo-Pacific region based on the rule of law, two economies with complementary resource endowments, technological capacities and cost competitiveness, and two nations with long tradition of friendship and mutual goodwill, hereby express our intent to jointly navigate the changes and opportunities in our countries and the world at large over the next decade, to help attain our respective domestic goals, and to bring our countries and peoples of the next generation closer together than ever before.To this end, by building upon the India-Japan Special Strategic and Global Partnership, we hereby lay out eight all-nation lines of effort with goals and targets over the next decade and steps towards their realization.(I) Next Generation Economic PartnershipAs the fourth and fifth largest economies in the world, we aim to harvest our mutual economic and financial strengths and catalyse the potential of our complementary resources and markets by:• Building upon the progress made in the 2022-2026 target of JPY 5 trillion of public and private investment and financing from Japan to India and setting a new target of JPY 10 trillion of private investment;• Enhancing and diversifying bilateral trade and investment through accelerating further review of the implementation of the India-Japan Comprehensive Economic Cooperation Agreement (CEPA);• Strengthening India-Japan industrial cooperation for the “Make in India” initiative through the India-Japan Industrial Competitiveness Partnership (IJICP) to help upgrade product quality in India using high quality products necessary for Japanese firms;• Exploring new projects under the India-Japan Fund, promoting Japanese corporations in the International Financial Service Centre of GIFT City in India and expanding the presence of key Indian industry associations, trade, and investment promotion agencies in Japan;• Enhancing the collaboration on payment systems between Japan and India, including local currency transactions;• Encouraging cooperation between small and medium enterprises (SMEs) by fostering visits of Japanese SMEs to India, expanding downstream industries and launching an India-Japan SME Forum;• Promoting food security and encouraging agri-business collaboration through policy dialogue and business exchanges, and promoting investment based on the demonstration at model farms and development of culinary professionals for Indian and Japanese cuisine; and• Exploring ICT cooperation and business opportunities among private sector entities.We also aim to advance our bilateral cooperation to strengthen economic relations with the Global South and harness its growth potential. In pursuit of this, we welcome the launch of the India-Japan Cooperation Initiative for Sustainable Economic Development in Africa. To this end, under the spirit of India’s vision of Mutual and Holistic Advancement for Security and Growth Across Regions (MAHASAGAR) and Japan’s Economic Region Initiative of Indian Ocean-Africa, we will also promote private sector-led businesses and investments in India and the robust concentration of Japanese companies in India as a hub for invigorating business collaborations with other countries in South Asia and Africa.
(II) Next Generation Economic Security PartnershipAs we take our bilateral partnership to new heights, we aim to launch an India-Japan Economic Security Initiative that provides momentum for strategic cooperation through whole of nation efforts in strengthening supply chains of key goods and materials, which foster market diversification and advance cooperation in cutting-edge technologies, including private sector led cooperation by:• Identifying and implementing concrete projects in the areas of semiconductors, critical minerals, pharmaceuticals and biotechnology, telecommunication, clean energy and new and emerging technologies through the government and business tracks of the Dialogue on Economic Security including Strategic Trade and Technology;• Sharing policy perspectives, intelligence and information on best practices on latest developments in the above areas;• Promoting cooperation on resilient supply chains and market diversification through the Memorandum of Cooperation in the field of Mineral Resources, India-Japan Digital Partnership 2.0, Memorandum of Cooperation on Semiconductor Supply Chain Partnership, and other such mechanisms;• Promoting private sector led cooperation, including by supporting the Joint Action Plan on Economic Security Cooperation by JETRO, CII and JCCII;• Welcoming the launch of the business pillar, the India-Japan Private-Sector Dialogue on Economic Security, under the India-Japan Dialogue on Economic Security, including Strategic Trade and Technology to foster above Joint Action Plan;• Implementing the Japan-India AI Cooperation Initiative (JAI) to promote bilateral and multilateral cooperation on AI and foster an innovative and trusted AI ecosystem; and• Promoting India-Japan battery supply chain cooperation to foster a healthy battery market and ecosystem.
(III) Next Generation MobilityLeveraging the strengths of Japanese advanced technologies and Indian talent, we will establish the Next Generation Mobility Partnership (NGMP) as a framework for comprehensive cooperation in infrastructure, logistics and mobility. Through this partnership, we aim to co-create solutions that will address the challenges in mobility fields where there is high demand in India and drive the development of a robust next-generation mobility and related industries that serves the vision of Make in India for the World. Utilising digital and smart technologies, focusing on sustainable and environment-friendly methodologies, and prioritising safety and disaster resilience, we will explore potential areas of collaboration, including but not limited to the following examples:• High-speed rail systems, including “Make in India” next-generation rolling stock, functional signaling and operational control systems, seismic-proofing, AI-based maintenance and monitoring, energy transition in the railway sector, advanced metro rail systems and mass rapid transit systems, by building on the hitherto cooperation in railways;• Transit-oriented development through integrated station area development, Mobility-as-a-Service platforms, inter-city road networks and end-to-end connectivity, including small-scale automated urban transportation systems such as Personal Rapid Transit (PRT);• Smart cities and city decarbonization, to be planned through advanced modeling that address challenges such as traffic congestion and air pollution;• Data utilization in the mobility field through connected technologies, driven by Software Defined Vehicle, aims to ensure safety and reliability in the mobility field;• Manufacturing of automobiles and aircraft, shipping vessels, utilizing sustainable fuel and using environment-friendly fuel storage, and expanding transport infrastructure;• Cold-chain logistic services for food and pharmaceutical transportation; and• Utilising 3D city models in urban planning and development, such as disaster simulation, and the formulation of evacuation guidance plans in the event of a disaster.We will actively promote collaborations between Indian and Japanese companies to manufacture the above products in India and export to the global market. We will also prioritise capacity building in India through technical training and human resource exchanges towards the cultivation of skilled personnel for design, operations and maintenance of these mobility solutions.At the same time, we will aim to mainstream disaster risk reduction through development of resilient infrastructure and strengthening cooperation in multilateral mechanisms such as the Sendai Framework for Disaster Risk Reduction.