India-Japan Business Summit Highlights Cooperation Opportunities for SMEs Growth

15 Nov, 2024

The India-Japan Business Summit in Bengaluru showcased key cooperation opportunities between Indian and Japanese SMEs, focusing on areas such as technology transfer, joint ventures, and skill development. As a lead-up to the Global Investors Meet (GIM) 2025, this event aimed to enhance collaboration by addressing market access, strengthening partnerships, and fostering growth in both regions. Plans were also revealed for a new Japanese industrial park in Karnataka’s Tumakuru node within the Chennai-Bengaluru Industrial Corridor, reflecting the increasing interest of Japanese businesses in Bengaluru.

Gunjan Krishna, commissioner for industrial development and CEO of Invest Karnataka Forum, emphasized the growing Japanese presence in the state and extended an invitation to Japanese companies to participate in GIM 2025, slated for February 12-14, 2025. This event will offer a platform for collaboration between government, SMEs, and startups, driving innovation and growth.

Nakane Tsutomu, consul general of Japan in Bengaluru, marked the 10th anniversary of the India-Japan strategic global partnership. He reiterated Japan’s commitment to investing 5 trillion yen in India over the next five years and encouraged Indian businesses to explore opportunities in Japan to deepen their understanding of its culture and markets.

Selva Kumar, Karnataka’s principal secretary for commerce and industries, highlighted the state’s pro-business policies, including streamlined regulatory frameworks, single-window clearances, and targeted subsidies aimed at stimulating innovation and encouraging collaboration with international partners.

Prashant Gokhale, senior vice president of the Bangalore Chamber of Industry and Commerce, underlined the summit’s critical role in bolstering India-Japan relations. He noted that these engagements pave the way for groundbreaking innovations in areas such as digital technology and manufacturing. Additionally, discussions on accelerating SME cooperation and leveraging strategic advantages further solidified the path forward for stronger bilateral ties.

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