India-Japan Business Summit Focuses on SME Cooperation

Bengaluru, Nov 14 (PTI) The second edition of the India-Japan Business Summit (IJBS) in Bengaluru on Thursday focused on accelerating cooperation between Small and Medium-sized enterprises (SMEs) in Karnataka and Japan.

The summit, a precursor to the Global Investors Meet (GIM) 2025, addressed key areas like technology transfer, joint ventures, market access, and skill development, aiming to strengthen the partnership between the two nations.

Gunjan Krishna, commissioner for industrial development and CEO of Invest Karnataka Forum, noted the growing presence of Japanese companies in Bengaluru, revealing plans to create a new Japanese industrial park in Vasanthanarasapura, part of the Tumakuru node in the Chennai-Bengaluru Industrial Corridor, to accommodate the influx.

He also invited Japanese firms to join GIM 2025, scheduled for February 12-14, 2025, in Bengaluru, which will serve as a platform for government-industry collaboration with a focus on SMEs and startups.

Nakane Tsutomu, consul general of Japan in Bengaluru, highlighted the 10th anniversary of the strategic global partnership between India and Japan, emphasising "Japan's goal of investing 5 trillion yen in India over the next five years." Further, he encouraged businesses to visit Japan to better understand its culture and set up operations there.

Selva Kumar, principal secretary of Karnataka's commerce and industries department, spoke about the state's business-friendly policies, including streamlined regulatory processes, single-window clearances, and subsidies, aimed at fostering innovation and collaboration.

Prashant Gokhale, senior vice president of the Bangalore Chamber of Industry and Commerce (BCIC), underscored the summit's role in strengthening India-Japan ties and paving the way for "breakthrough innovations in sectors such as digital technology and manufacturing."

The summit also featured discussions on "reimagining growth with Japan" and "accelerating cooperation between Indian and Japanese SMEs," which explored the strategic advantages of collaboration between the two countries.