The Centre for Social and Economic Progress hosted a seminar titled “Emerging Geoeconomic Imperatives: Perspectives from India and Japan” on Wednesday, September 18, 2024.

The seminar featured a conversation between Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation (JBIC) and Jaimini Bhagwati, Distinguished Fellow, CSEP and Former High Commissioner of India to the UK.

Background and Context

Global economy is undergoing a significant shift today as nations prioritise economic resilience, supply chain security, and technological leadership. Driven by rising geopolitical tensions and the disruptions caused by the pandemic, countries have accelerated efforts to diversify trade routes, de-risk supply chains, and bolster critical industries like semiconductors, green technology and manufacturing. Furthermore, the emphasis on climate mitigation and resilience is driving the push for sustainable growth, particularly through climate resilient infrastructure. This has resulted in a change in geopolitical focus to emphasise strategic partnerships and investment in innovation to secure long-term growth.

India and Japan, two prominent Asian powers and close partners are adapting to navigate through this shift. Both nations are committed to deepening cooperation in areas such as trade, infrastructure, and technology. India seeks to enhance connectivity and diversify its trade partners, while also becoming a manufacturing hub. Japan, on the other hand, remains a global leader in technological innovation and manufacturing. Beyond bilateral partnerships, both are also engaged in strategic partnerships to supply public goods, including through the Quadrilateral partnership as well as the Indo-Pacific Economic Framework (IPEF). This resonates with their shared vision for inclusive development, free trade, and investment in quality infrastructure across the Indo-Pacific.

Please contact Gurmeet Kaur at GKaur@csep.org for general enquires and Ayesha Manocha at AManocha@csep.org for media enquiries.

All content reflects the individual views of the speakers. The Centre for Social and Economic Progress (CSEP) does not hold an institutional view on any subject.