While visiting the Fuji Automatic Numerical Control Factory in Tokyo, Indian Prime Minister assured that the future looks bright for Asia.
Since its independence, India has always been interested in fostering relationships with Japan due to different factors that make them closer despite their geographical location. Buddhism is the fourth largest religion in the world, and these two countries share common cultural traditions of this philosophy. Being two of the largest democratic nations in Asia, their political, social and economic commitments are something that requires global attention.
Trade agreements between Japan and India are expected to reach US $50 billion by 2020, making it one of the biggest commercial bridges in the world among NAFTA (North American Free Trade Agreement), the Eurozone and the APTA, previously known as the Bangkok Agreements.
Just recently, Indian Prime Minister Narendra Modi visited Tokyo in order to sign a $75 billion bilateral currency swap. Japanese Finance Minister Taro Aso claimed that a deal like this solidifies the strong bonds between these countries, safeguarding many solutions in case that a financial crisis assaults the region.
Same happened in China, with whom Japan signed an international business treaty that is intended to help Japanese companies and financial institutions working in Chinese territory, most of all to ease foreign exchange issues in regards to swapping Yens and Yuans.
Asia has become an interesting location for countless tech startups working in areas that range from finance, education, medicine, software and culture. Japan and India want to boost their relationships with a focus on innovation, knowing that an age of automation, robotics and artificial intelligence is coming to drastically change our landscape.
“India’s software and Japan’s hardware can do wonders.” Said Indian Premier Narendra Modi to the press and hundreds of businesspersons at a Tokyo meeting.