A Study on Prospects for India-Japan Economic Collaboration after Covid-19

Extensive economic cooperation has become a key component of "India and Japan's" Tactical and Transnational Collaboration since its inception in 2006. Japan has been one of India's most significant trading allies and third-largest investor. Notably, Japan is India’s most significant bilateral contributor of development aid, especially for infrastructural development. Despite the economic complementarities, bilateral economic and trade relations have stayed below capacity in actual fact. With the present COVID-19 epidemic posing significant difficulties to the world economy, India and Japan must recruit crucial players in their corresponding economic growth plans and enhance bilateral economic participation. In this perspective, this paper examines the present state of "India-Japan economic relations", including international trade, investment, and ODA. It highlights the synergistic benefits of "Japan's COVID-19-related" policies to assist companies in diversifying their manufacturing sites and distribution networks, as well as the changes India is doing to allow more global and domestic distribution network convergence. This article also discusses policy measures that would enable equally advantageous socioeconomic cooperation between India and Japan gain traction in the post-COVID era.