Desk OverviewThe importance of East Asia region is reflected in Government of India’s Act East policy that has made its relations with its East Asian neighbours a foreign policy priority. In economic terms, the region has Asia’s largest and most industrialized economies of China (GDP USD 11.2 trillion), Japan (GDP USD 4.9 trillion) and the Republic of Korea (GDP USD 1.4 trillion). The economic engagement with the region has been rising over the years with Japan being the 3rd largest investor in India with a cumulative investment of US$26 billion. We have witnessed high interest for investment in India from China in the last one year. Our trade and investment relations with Korea have also showcased a rising trend and we are now in the process of widening the scope of our trade agreement to further boost trade and investment.
- FICCI attaches great importance to this region and implements trade and investment promotion initiatives through important institutional arrangements like CEOs Forum, Joint Business Councils (JBCs), BRICS Business Council.
- In close alignment with the Government’s focus, our knowledge work and policy advocacy is aimed at supplementing the Indian industry’s agenda and providing relevant inputs to Government.
- At the track two level, we engage with Japan through FICCI’s India-Japan Forum of Parliamentarians, Chaired by Shri Bhupender Yadav, Hon’ble MP.
- FICCI has also been awarded Japanese Foreign Minister’s Commendation for its exemplary work in promoting India-Japan bilateral relations
Vision: India’s engagement with this strategic and vibrant region is significant and important especially at a time when relations with East Asia is a high priority on foreign policy. In future, FICCI looks forward to widen our spectrum of activities in this very important region.