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Thursday, July 18, 2024

RBI chairman said India and Japan can collaborate on semiconductors, rare earth, and AI

<p>RBI Governor Shaktikanta Das said in Tokyo on Thursday that there are several prospects for partnership between India and Japan in the areas of semiconductors, robust supply chains, rare-earth extraction, space technology, artificial intelligence, and quantum computing.<img decoding=”async” class=”alignnone wp-image-275695″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-rbi-chairman-said-india-and-japan-can-collaborate-on-semiconductors-rare-earth-and.jpg” alt=”theindiaprint.com rbi chairman said india and japan can collaborate on semiconductors rare earth and” width=”999″ height=”748″ title=”RBI chairman said India and Japan can collaborate on semiconductors, rare earth, and AI 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-rbi-chairman-said-india-and-japan-can-collaborate-on-semiconductors-rare-earth-and.jpg 259w, https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-rbi-chairman-said-india-and-japan-can-collaborate-on-semiconductors-rare-earth-and-150×112.jpg 150w” sizes=”(max-width: 999px) 100vw, 999px” /></p>
<p>We may be able to improve our cooperation in the area of human resources. In his speech to the Tokyo Chamber of Commerce and Industry, Das said, “I am certain that the future presents many opportunities to strengthen our interactions for the benefit of our people and the whole globe.</p>
<p>India’s youthful population, enhanced digital and physical infrastructure, and most importantly, supportive governmental framework have made it the new engine of global development. He said, “Japan and India remain natural partners in this context.”</p>
<p>As we lay the foundation to improve India’s economic trajectory, we turn to the Japanese “Economic Miracle” as a lesson. Through a number of collaborations with the public and commercial sectors, Japan has been instrumental in helping India develop its infrastructure,” Das said.</p>
<p>“India views Japan as a close partner to seize the moment and usher in a new era of growth and prosperity, for both our countries,” he said.</p>
<p>The RBI Governor emphasized the positive aspects of the Indian economy by stating that while the nation’s growth is continuing on course, inflation is moderately rising although still being over goal. The business and bank balance sheets are in the best shape in a long time, and the government’s drive for public investment has created favorable circumstances for a long-term upsurge in investment.</p>
<p>According to our studies, consumer confidence has increased since the pandemic lows. We are taking advantage of export possibilities in the services sector, our current account deficit is still quite manageable, and we have increased our foreign exchange reserves to prepare for any eventualities, so our external sector gives us confidence,” he said.</p>
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