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India and Japan have shared a strong and productive history of bilateral development cooperation since 1958. With Japan's "Free and Open Indo-Pacific Strategy" and India's "Act East" policy, the strategic and global alliance between the two nations is being strengthened, particularly in the areas of economic, cultural, and security cooperation.
In recent years, the economic partnership between India and Japan has continued to flourish. As of FY2023, bilateral trade between the two nations totalled approximately $21.96 billion, with Japan exporting goods worth $16.49 billion to India and importing $5.46 billion worth of goods from India.
Japanese private sector interest in India remains strong, with around 1,500 Japanese companies operating over 5,000 branches across the country as of 2024.
Japan's involvement in India is extensive, particularly in sectors like infrastructure, aerospace, defence, and energy. The Shinkansen high-speed rail project, which is a flagship collaboration between the two countries, is a significant example of this partnership. Furthermore, Japan has been a major source of Official Development Assistance (ODA) to India, supporting various projects across education, health, manufacturing, transport, and more.
This robust economic relationship is also supported by a strategic alignment in policies, with Japan's 'Free and Open Indo-Pacific' strategy complementing India's 'Act East' policy, driving cooperation in economic, cultural, and security domains (India Brand Equity Foundation, Delhi Policy Group).
Japan continues to play a significant role in India's skill development through initiatives like the Japan-India Institute for Manufacturing (JIM). As of the latest updates, Japan has trained approximately 18,000 Indians under the JIM program, contributing significantly to India's 'Make in India' and 'Skill India' initiatives. The program aims to train 30,000 individuals over the next decade, focusing on developing skilled manpower across various sectors, including manufacturing and healthcare.
With Japan's aging population, there is a growing opportunity for skilled Indian workers to meet the demand in Japan, particularly in the healthcare sector. This initiative is part of a broader effort to enhance the strategic partnership between the two nations. Under themes like 'Resurgent Japan, Vibrant India,' various events and exchanges continue to take place in both countries, promoting cultural and economic ties and fostering mutual understanding (Delhi Policy Group).
With such an increase in business collaboration between India and Japan, some areas of interest, which need a deeper academic and managerial involvement, are emerging. These include fields such as banking, business environment, government policies, innovation, intellectual property rights, logistics & distribution, procedures on currency hedging & counter guarantees, sourcing, technology transfer/ development/management, and understanding of local culture and business practices. Faculty at IIMB are involved in Japan-related research and courses teaching, through ongoing research collaborations and student exchange Programmes with some of the top Japanese business schools. With compelling business and national interests propelling the fast-evolving India-Japan business environment, IIMB, with its academic and research competencies, conceived the idea of establishing an India Japan Study Centre to facilitate collaborative initiatives among academia, industry and government agencies of both countries to work on areas of mutual interest.
IIMB has years of ongoing research collaborations and student exchange programmes with some of the best Japanese business schools and universities, like Hitotsubashi University, International University of Japan, Keio University, Tokyo University, Kyoto University, and Waseda University. There are industry relationships and collaborations as well. IIMB offers an elective course exclusively on Japan to its MBA students. Faculty at IIMB are involved in Japan-related research and teaching.
With compelling business and national interests propelling the fast-evolving India-Japan business environment, IIMB -- with its academic and research competencies -- conceived the idea of establishing the Mizuho India Japan Study Centre to facilitate collaborative initiatives among academia, industry and government agencies of both countries to work on areas of mutual interest. These would include domains such as business environment, government policies, innovation, project management, sourcing, technology transfer, development and management, sustainability, intellectual property rights, and understanding of local culture and business practices. The sectoral focus would be on infrastructure including energy and transportation, and Micro, Small and Medium Enterprises.
Currently, there is no focused initiative in India among academic institutes, particularly in management institutes, to create, share and disseminate knowledge in the relevant areas of Indo-Japanese business. The Mizuho India Japan Study Centre @ IIMB aims to become a leading research and networking hub that would provide students, researchers, business managers and policy makers with a deeper understanding of Japanese and Indian business.
As a location, Bengaluru has the highest number of Japanese companies and professionals in India. Further, its innovation ecosystem has been ranked among the world's best.
Focused activities of the Mizuho India Japan Study Centre @ IIMB will be aimed at stimulating, strengthening and sustaining Indo-Japanese academic-business interactions.
To promote understanding of Japan in India and India in Japan through research, teaching and policy outreach efforts
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