NEW DELHI -- The government intends to support Indian IT companies and start-ups that are coming to Japan.
To start, the Japan External Trade Organization (JETRO) is planning to exchange memorandums and other arrangements with such companies during the Japan-India summit talks that is scheduled for later this month.
As India has announced its withdrawal from the Regional Comprehensive Economic Partnership (RCEP), the government hopes to bring the country back to the negotiation table by offering its cooperation in the improvement of the international competitiveness faced by Indian companies and industries.
One of the prospective arrangements between the two countries involves JETRO providing a start-up hotel chain in India with a rent-free office for several months when the company expands its business to Japan. Additionally, JETRO is planning to provide assistance to Indian IT firms that already have branches and research development bases in Japan, so it will be easier for these firms to work with Japanese companies.
Such measures are likely to benefit Japan as well. For instance, with India being a country with an extremely large population, Japan may be able to acquire some of its demands. The support is also aimed at removing India's concern that its industries would be exposed to severe international competition in the RCEP.
On Tuesday, Economic, Trade and Industry Minister Hiroshi Kajiyama visited India and held talks with India's Minister of Petroleum and Natural Gas and Minister of Steel Dharmendra Pradhan as well as the country's Minister of Commerce and Industry Piyush Goyal, who is in charge of the RCEP negotiations. During their talks, Kajiyama told the ministers to return to the negotiating table regarding the partnership.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
