Japan

India has become the world’s fourth-largest economy, moving ahead of Japan in a milestone that reflects years of sustained growth and structural transformation. The shift highlights India’s expanding economic scale, powered by strong domestic demand, rising public investment, and a resilient services sector. Despite global headwinds, the country has maintained momentum through policy reforms, infrastructure spending, and improving macroeconomic stability.

India’s seafood industry, a major pillar of the country’s agri-export basket, is facing renewed headwinds as the United States considers higher import tariffs on certain marine products. The US, which accounts for nearly one-third of India’s seafood exports, remains a vital market for shrimp and frozen fish. However, with protectionist trade measures tightening, exporters are exploring opportunities in Japan, China, the European Union, and West Asia to diversify their customer base.

In a landmark move for digital finance, NPCI International Payments Ltd. (NIPL), the global arm of India’s National Payments Corporation, has signed a Memorandum of Understanding (MoU) with Japan’s NTT DATA to introduce Unified Payments Interface (UPI) acceptance across Japanese merchants. The collaboration aims to enable Indian tourists and business travellers to make seamless payments using UPI-powered apps, while supporting Japan’s ongoing transition to a cashless economy.

Japanese fast-fashion giant UNIQLO has set an ambitious target of achieving Rs. 3,000 crore in sales from its India operations in the coming years, underscoring its long-term commitment to one of the world’s fastest-growing retail markets. The company, part of the Fast Retailing group, is intensifying its focus on store expansion, local supply chain partnerships, and product customization to align with Indian consumers’ evolving tastes.

India and Japan are deepening their partnership in the energy sector as both nations confront rising demand, volatile global markets, and the urgent need for cleaner fuel alternatives. Senior officials from New Delhi and Tokyo have intensified discussions on diversifying supply chains, enhancing cooperation in liquefied natural gas (LNG), hydrogen, and renewables, and reinforcing energy security through joint projects and strategic investments.