Finance Minister Nirmala Sitharaman has met Japan Bank for International Cooperation (JBIC) Governor Kazuhiko Amakawa and discussed expanding cooperation in clean energy, energy transition, advanced manufacturing, semiconductors, critical minerals, electric mobility and resilient supply chains. The two sides also discussed cooperation through the $600 million India-Japan Fund and greater Japanese participation in the National Investment and Infrastructure Fund.
During the meeting, Amakawa highlighted the success of the India-Japan Fund, which has invested in various sectors such as electric mobility and bioethanol and expressed hope for a follow-on fund. He noted JBIC's stake in the National Industrial Corridor Development Corporation (NICDC) and growing Japanese interest in semiconductors, including opportunities at Dholera, and in AI and data centres.
Sitharaman encouraged Japanese investors to explore opportunities in the data centre sector in Tier 2 and Tier 3 cities, including Visakhapatnam, to promote balanced urban development. Both sides recognised the potential to further strengthen India-Japan economic and financial ties and learn from each other's experiences.
