India-Japan Cooperation: Revitalizing Economic Growth In DeepTech And Clean Energy Sectors
India has emerged as one of the world’s largest start-up ecosystems, fostering innovation, entrepreneurship, and technological advancements thus attracting global attention in the field of deep tech.
India and Japan have a strong relationship and partnership, which is deepening and getting stronger day by day. Especially this year we have enhanced scope of co-operation as Japan is hosting G7 and India is hosting G20. Both countries deliberated in a coordinated manner for complimenting outcomes from these two crucial events.
Strengthening further, India-Japan Deeptech Innovation & Clean Energy Seminar was organized by JETRO and NEDO Japan 20th July 2023 at New Delhi. The seminar was co-hosted by FICCI and TERI. The objective of the seminar was to foster partnership through sharing knowledge, experiences, and expertise between India and Japan in the field of deep tech innovation and clean energy. The Seminar was curated to cover a wide range of topics related to the subject such as, digital innovation, semiconductors, start-ups, hydrogen and ammonia, energy efficiency and clean mobility.
The Japan-India Industrial Co-Creation Initiative
The Seminar was Addressed by Yasutoshi Nishimura, Minister of Economy, Trade and Industry (METI), Japan; Hiroshi Suzuki, Ambassador of Japan to India; Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade; and Suman K Bery, Vice Chairperson, NITI Aayog.
During the event Minister of Economy, Trade and Industry (METI) Yasutoshi Nishimura detailed the new “Japan-India Industrial Co-Creation Initiative” to strengthen bilateral economic ties. His address during the conference resonated, Japan’s entrepreneurial spirit, investment and leading innovative technologies provide good opportunities for collaborating with India in the field of DeepTech and clean energy.
In line with the catchphrase “Creating Future Industries,” besides cooperation in the mentioned areas, Nishimura called for cooperation in supporting startups, as they are viewed as a catalyst for economic growth.
The seminar was attended by leading business leaders including startup founders, policy makers and investors from India and Japan on one platform to discuss and foster a new chapter of economic co-operation between NEDO India Team and NEDO president.
Details on two panel discussions hosted during the seminar were:
i) India – Japan Cooperation on Green Hydrogen mission
The session focused on opportunity areas for collaboration between India and Japan and the trends emerging across the entire spectrum of green hydrogen value chain from production to the supply side. Further, the session also deliberated on challenges in developing a green-hydrogen based economy, and how collaboration between India and Japan can help overcome the barriers.
ii) Various Mobilities Contributing to Carbon Neutrality
The panel discussed India and Japan’s shared goals on decarbonising the road transport sector, and transitioning the sector towards clean mobility. Policies on uptake of zero-emission vehicles and production and promotion of bio-fuels were the core topics of discussion at the panel.
Parting Thoughts
India has emerged as one of the world’s largest start-up ecosystems, fostering innovation, entrepreneurship, and technological advancements thus it is attracting global attention in the field of deep tech. India is home to more than 100 “unicorns” (privately-held companies with a corporate value exceeding one billion US dollars), the third largest number in the world.
