Delivering the keynote address at the workshop on Policy Responses to COVID19 in India and Japan and Prospects for Economic Cooperation Going Ahead, Dr. Rajiv Kumar, Vice Chairman, NITI Aayog, stated that India and Japan must play the role of an anchor for democracy, stability and free trade in the current turbulent times. According to him the time is right to realize the tremendous potential of economic engagement between the two countries and this can also provide a framework for global growth and development. Dr. Kumar lauded the pledge of $42 billion investment over the next five years by Japan that was announced after the summit meeting between Prime Minister Modi and Prime Minister Kishida last week saying that once this fructifies the bilateral relationship between India and Japan will reach a new level.
Dr. Kumar also used this opportunity to call for greater Japanese investment in India and urged the Japanese companies to take advantage of the PLI scheme. He emphatically stated that the Atmanirbhar mission is in no way leading India to be a closed economy. Rather, self-reliant India is looking for greater engagement with the global economy and is geared towards generating growth, employment and exports.
The workshop jointly organized by the Indian Council for Research on International Economic Relations (ICRIER) and the Policy Research Institute (PRI), Japan, discussed the policy responses to COVID19 in India and Japan, the future outlook for the two economies and prospects for India-Japan economic cooperation. The Policy Research Institute (PRI) is a think tank under the Ministry of Finance, Japan and ICRIER and PRI have been organizing the annual workshop for 10 years.
Notable speakers at the workshop included Deepak Mishra, Director & Chief Executive, ICRIER, Takeshi Kurihara, President, PRI, Ajit Ranade, Vice-Chancellor, Gokhale Institute of Politics and Economics, Go Yamada, Principal Economist, Japan Center for Economic Research, Deepa Gopalan Wadhwa, former Indian Ambassador to Japan, Takahiro Sato, Professor, Kobe University, and Nisha Taneja, Professor, ICRIER.