Ex-Japan PM hopeful of leap forward in economic relations with India

Former Japanese Prime Minister Yoshihide Suga, who is also the president of Japan-India Association, an organisation fostering goodwill between the two countries, on Thursday said he was hopeful of a urther leap forward in economic relations between New Delhi and Tokyo.

The former Japanese PM, who is on a visit to India with a delegation of over 100 members comprising government officials, Keidanren (Japan Business Federation), and members of the "Ganesha no Kai" group of Parliamentarians, was addressing an event organised by industry body FICCI.

Earlier, on Thursday, the former Japanese PM called on Prime Minister Narendra Modi, with the two holding discussions on deepening India-Japan Special Strategic and global partnership in different areas, including parliamentary exchanges, investment and economic ties.

At the outset of his speech at the FICCI event, the former Japanese Prime Minister thanked Keidanren, the Confederation of Indian Industry (CII), and other business stakeholders from both Japan and India for joining him.

He expressed his gratitude for their continued efforts to develop and deepen Japan-India economic relations.

"As the President of the Japan-India Association, I am very pleased to be able to visit India together with the business community of Japan. India has now become the fifth-largest economy in the world. And even now, it is growing rapidly, and the economic growth rate in fiscal 2022 is at a high level of 7.2 per cent," said Suga.

He also mentioned how he felt the "momentum" of the Indian economy, adding that India was posed to be home to the world's largest population.

"India is also expected to become the world's largest population by the end of this year. I myself witnessed India's liveliness and was able to directly feel the "momentum" of the Indian economy," he added.

Suga was also hopeful that the representatives of Indian industry will deepen their cooperation with private companies in Japan and play a major role in the development of Japan-India economic relations.

"Your activities will be the pillars of economic relations between our two countries. We hope that you will continue to support us for the further development and deepening of Japan-India relations. I would like to conclude my remarks by praying for a further leap forward in economic relations between Japan and India," the former Japanese PM said.

Earlier on Thursday, PM Modi had a fruitful interaction with accompanying members of the "Ganesha no Kai" Parliamentary group on strengthening Parliamentary linkages between the two countries, stated a release issued by the Prime Minister's office.

"Glad to receive Mr. @sugawitter, Chairman JIA and former PM of Japan, along with the 'Ganesha group' of Japanese Parliamentarians and @keidanren CEOs. Had an engaging discussion on deepening our Special Strategic and Global Partnership in different areas, including parliamentary exchanges, investment and economic ties, P2P links, tourism and skill development," PM Modi tweeted on Thursday.

PM Modi welcomed Keidanren members to India and highlighted widespread reforms undertaken in the country to improve the business ecosystem.

He also invited Japanese investors to expand their existing investments while exploring new avenues of cooperation, as per the release.

Suga has said that it is important to deepen cooperation between India and Japan as special strategic global partners.

The year 2022 marked the 70th anniversary of the establishment of diplomatic relations between Japan and India.