Japan and India to collaborate on many sectors
There are new terms coined in the financial world like Abenomics and Modinomics. ‘Abenomics’ is widely used for economic policies and reform measures initiated by Japanese Prime Minister Shinzo Abe, while ‘Modinomics‘ refers to that of Indian Prime Minister Narendra Modi.
Modi had recently said that partnership with Japan was of high priority for his government. Drawing comparisons between ‘Abenomics and Modinomics’, Japanese financial major Nomura has said that Japan can play an important role in developing India’s infrastructure and manufacturing sectors.
Nomura while discussing during a research note mentioned that they see a growing symbiotic relationship between India and Japan. Both the countries share large comparative advantages and are embarking upon significant market-opening reforms under Abenomics and Modinomics.
Both countries can offer each other large comparative advantages. This might be a good news for the Indian consumers as Japan is known for its Six Sigma approach and flawless product engineering.
The report also stated that while Japan can play an important role in developing India’s infrastructure, India can offer low costs, burgeoning markets and soon, the world’s largest population. This will help Japan to reap good returns on investments.
Source- The Economic Times
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