Friday, April 6, 2012
Talk on "India Japan Economic Relation"
Dr. Sato divided his presentation to two parts. Pre and Post 1991 liberalisation. In the pre 1991 phase he subdivided the period to pre and post world war II phase. He started his presentation from the end of the Edo era, which resulted in the opening up of Japan to the world. Japan's import of cotton from India marked the starting of India Japan economic relation. He was of the opinion that Japanese cotton industries achieved International competitiveness by importing cotton from India, which in turn boosted the relationship. In 1941, during the second world war, the economic relationship ended with the British Indian government freezing the assets of Japanese in India.
But after the second world war, the economic relationship between both the countries re emerged. This time too, Japan started importing raw cotton from India. Then slowly the trade moved to steel sector. In 1991 India faced most serious economic crisis from external debt. Japan at this time supported India with credit. And after the liberalisation of India economy India Japan economic relations went to further heights.
Then he touched upon the Comprehensive Economic Partnership Agreement (CEPA) between India and Japan that was signed last year. He also pointed out Justice Pal's Judgement in Tokyo war crime tribunal and Nehru's vision which contributed to the relationship immensely.
Dr. Sato winded up his presentation by saying we share a special relationship, and wished for the success of CEPA.
The presentation was followed with a Q & A session.