The Delhi Mumbai Industrial Corridor is one of the most prioritized projects of Japan in India. The State sponsored Industrial Development project will cover six state in western India and is estimated to have cost US$ 90 billion that will hopefully double the employment, triple the industrial outputs and quadruple the exports. DMIC development Corporation (DMICDC) works as the Office of Primary Interest (OPI) for the project and coordinates with the Government of Japan on the issue.
Published in Chapter:
Japan-India Trade Relations: History, Catalysts, and Challenges
S. Jobayear Ahmed (Bangladesh Rural Advancement Committee (BRAC), Bangladesh)
Copyright: © 2022
|Pages: 33
DOI: 10.4018/978-1-7998-5774-7.ch013
Abstract
Japanese-Indian relations is supported by historic, political, and cultural affiliation, which usually led towards positive economic relations. Although the Japanese-Indian relationship is a few centuries old, surprisingly, the statistics of trade hardly exhibit any mentionable growth, except the recent upward trend in exports to Japan. In fact, India almost failed to capture the near home market even with the growth (1% market share). Therefore, the chapter is developed based on a qualitative study with the objectives of exploring the history, catalysts, and impediments of Japanese-Indian trade relations and recommends the future course of action. The study recommends completion of India's megaprojects, Japan's policy reform, taxation and supportive reform, arrangement of social life of the foreigners, zero corruption, forgery, and harassment, efficiency, effectiveness, linguistic skill and cultural understanding of human resources, and creating opportunities and building organizational capacities between the two.