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- Title
India's Economic Development & Japan-India Relations.
- Authors
Masanori Kondo
- Abstract
India's economy is growing rapidly and is predicted to become the world's second-largest economy by 2075. The country's strength lies in its large middle class and domestic demand-driven economy. Efforts are being made to promote manufacturing through initiatives like "Make in India." India faces challenges such as poverty, inequality, and environmental issues, but the government is taking steps to address them. India's foreign policy is non-aligned, maintaining relationships with major powers while facing border disputes with China and conflicts with Pakistan. India is also emerging as a leader of the Global South, assuming the G20 presidency in 2023. Relations between India and Japan are strong, with increasing direct investment from Japan. However, there have been challenges for Japanese companies in India, such as intense competition and a lack of success stories from small and medium enterprises. Trade between Japan and India has been stagnant, but there has been an increase in the number of Indians living in Japan and Japanese interest in Indian culture. Japan has provided significant Official Development Assistance (ODA) to India, primarily in the form of yen loans. The Japan-India relationship has become more strategic, with regular bilateral talks.
- Subjects
INDIA; OBAMA, Barack, 1961-; BUSH, George W. (George Walker), 1946-; ECONOMIC development; RUSSIAN invasion of Ukraine, 2022-; INDIAN women (Asians); RURAL poor; INDIANS (Asians); FOREIGN exchange reserves
- Publication
Economy, Culture & History Japan Spotlight Bimonthly, 2024, Vol 43, Issue 2, p27
- ISSN
1348-9216
- Publication type
Article