Japanese Prime Minister Sanae Takaichi's three-day visit to India from July 1-3 for the 16th India-Japan Annual Summit has renewed focus on expanding bilateral cooperation beyond strategic and government-led initiatives, with greater emphasis on industry partnerships.
In Japan, over 3.36 million small and medium-sized enterprises (SMEs) account for 99.7% of all businesses and around 70% of total employment, according to a World Economic Forum analysis. Experts believe closer collaboration between Indian and Japanese MSMEs could unlock significant opportunities, particularly in electronics, computer software, and digital services, where Japanese technological expertise complements India’s scale. The opportunity assumes greater significance as India's electronics manufacturing and IT services ecosystem, valued at well over $300 billion annually, continues to emerge as a key pillar of economic growth and one of the country’s largest contributors to employment and exports.
