India-Japan Business Leaders Forum Charts New Path For Economic Cooperation

Baba Kalyani, Chairman and Managing Director of Bharat Forge Ltd., co-chaired the 12th India-Japan Business Leaders Forum in the presence of Prime Minister Narendra Modi and Prime Minister Shigeru Ishiba of Japan.

Meeting after seven years, the forum focused on boosting cooperation in green energy, electric mobility, space, artificial intelligence, semiconductors, digital technology, healthcare, and electronics.

In his address, Mr. Kalyani called the India-Japan partnership a vital force for global economic security and sustainable growth at a time of trade uncertainties. He stressed the need to strengthen value chains by using the complementary strengths of both nations, encouraged Japanese investments in India’s banking and financial sectors, and highlighted the importance of co-creating technologies for Society 5.0. He also emphasized the role of joint standard-setting bodies, skill mobility, and human exchange, noting India’s young workforce as a strong asset for Japan’s needs.

Mr. Kalyani and Mr. Tsutsui-san, Chairman of Keidanren, presented the Joint Forum Report to the two Prime Ministers. The report outlined steps to revise the Comprehensive Economic Partnership Agreement (CEPA), amend the tax treaty, and support India’s possible entry into the CPTPP. It also called for a private-sector dialogue on economic security, collaboration on clean energy and decarbonisation, cooperation in semiconductors, AI and smart manufacturing, promotion of SME and start-up links, and partnerships in third-country markets like Africa. The discussions also covered cooperation in the space sector and opportunities in film, animation, gaming, and extended reality.

The forum reiterated that India and Japan are entering a new phase of economic partnership based on innovation, sustainability, and shared prosperity, creating new opportunities for both nations and the global economy.