Imperative to deepen India-Japan cooperation as special strategic global partners: Former Japan PM Suga

New Delhi [India], July 6 : Stating that India and Japan as countries share fundamental values, former Prime Minister of Japan Yoshihide Suga has said that it is important to deepen cooperation between the two countries as special strategic global partners.

Suga is currently on a visit to India.

Addressing the FICCI event, former Japan PM Suga said that he will be happy to get suggestions on how the Members of Parliament from both countries can work together to improve bilateral trade and business opportunities.

Suga expressed hope that the delegation of the 'Ganesha' Group of MPs from Japan, visiting India will give further momentum to the India-Japan relationship and will serve as an opportunity to further strengthen the business engagements.

Sushil Kumar Modi, Rajya Sabha member and Chair of FICCI India-Japan Forum of Parliamentarians said, "Japan is the 5th largest FDI investor in India and between April 2000 to September 2022, we received FDI equity inflows worth USD 38.12 billion which is 6 per cent of the total inflows received."

The year 2022 marked the 70th anniversary of the establishment of diplomatic relations between Japan and India.

Emphasizing on the potential of Indian start-ups, the Rajya Sabha stated that Japan ranks 5th in investing in Indian start-ups with a total investment of USD 50 billion received over the last five years and funded 165 Indian start-ups through venture capital and private equity investment.

"Key Japanese companies have today become household names in India. The relationship between India and Japan is strengthening with investments in the Mumbai Bullet train project, Make in India project along with various investments at the state level as well," he added.