Mr. Atsushi Mimura, Vice Minister of Finance for International Affairs, Japan, and Mr. Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, India held the 2nd India-Japan Finance Dialogue in Tokyo on 6th September 2024.

The Japanese delegation included the representatives from Ministry of Finance and Financial Services Agency. From the Indian side, the representatives from Ministry of Finance, Reserve Bank of India, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority, Insurance Regulatory and Development Authority of India, and International Financial Services Centres Authority participated in the discussion.

The participants exchanged their views on the macroeconomic situation in both countries. They discussed cooperation in third countries, bilateral cooperation, and international issues. The participants also shared views on financial sector issues, including regulation and supervision, financial digitalisation, as well as other policy initiatives in both countries. The participants were also joined by representatives of Japan’s financial services industry for a session to discuss various financial regulatory issues towards further expansion of investment in India.

Both sides agreed to continue discussions for further promoting financial cooperation and strengthening bilateral relations, and agreed to explore holding the next round of the Dialogue in New Delhi.

****

NB/KMN

Financial cooperation advanced in India Japan dialogue, with agreement to continue talks and consider a New Delhi round. The 2nd India Japan Finance Dialogue affirmed a framework to advance financial cooperation through ongoing exchanges on macroeconomic outlooks, bilateral and third country collaboration, and regulatory coordination. Participants focused on regulation and supervision, financial digitalisation, policy initiatives, and measures to facilitate cross border investment, and agreed to continue discussions and consider holding the next round in New Delhi.