5 Trillion Yen Investment Target In India In Next 5 Years Achievable: Japanese Consul-General Yasukata Fukahori

Talking to Session Chair Gul Panag on 'India and Japan: Seventy Years of Friendship', the Consul-General Yasukata Fukahori said the "investment target in India within the next five years seems attainable".

Ideas of India Summit 2023: On the stage of ABP Network Ideas of India, the Consul-General of Japan, Yasukata Fukahori reiterated the cultural proximity and said that the economic ties will deepen with a target of five-trillion Yen investment in India can be achieved soon. Talking to Session Chair Gul Panag on 'India and Japan: Seventy Years of Friendship', the Consul-General said the "investment target in India within the next five years seems attainable".

"Over the past 20 years, India has been a challenging market... Companies have seen failed investments and recorded significant losses upon return to Japan. However, the situation is currently experiencing dynamic changes. It is crucial for private companies to establish reliable partnerships with proper partners in India. Building trust now will lead to long-lasting relationships," Yasukata Fukahori said.

"Fortunately, with Kishida, and formerly Abe, Modi shares positive relations. Achieving the 5 trillion yen investment target in India within the next five years seems attainable. There is optimism that investments will continue to flow into India, and the cultural closeness between the nations also aids in this endeavour," he added. 

On the stage of ABP Network Ideas of India, the Consul General of Japan in detail talked about the cultural similarities and said India-Japan are a natural ally.

"Japan may be a religion-free country, but its embedded religious culture is evident. Upon reading the Vedas, Gita, and Manusmriti, I noticed the striking similarities between Hinduism, Shinotism, and Zen Buddhism. This spiritual connection makes India and Japan natural allies in both cultural and economic values," he said.

Yasukata Fukahori said as the 5th and 3rd largest economies in the world, India and Japan must work together for the benefit and peace of the region.

Welcoming India's Look East Policy, the Consul General of Japan said the QUAD framework is vital in Asia. 

Presenting the idea of a "refining" democracy, he said the combination of capitalism and democracy may not be ideal. To maintain democracy refining is required from capitalism to avoid economic inequality and imbalanced wealth distribution, Yasukata Fukahori said on the Ideas Of India stage.