Ministry of Economy, Trade, and Industry (METI) is a ministry of Japan with a mission to develop Japan’s economy and industry by focusing on promoting economic vitality in private companies and smoothly advancing external economic relationships, and to secure stable and efficient supply of energy and mineral resources.
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.