New Delhi, October 9, 2026: The Iron Pillar Initiative in Global Learning (IGL) at Ashoka University, in collaboration with Iron Pillar, today launched the India–Japan Economic Corridor: Technology, Finance, and the Future of the Indo-Pacific, a new report examining how the India–Japan partnership can evolve into a deeper economic corridor connecting capital, technology, manufacturing, supply chains and talent. The report was launched at the International House of Japan in Tokyo, bringing together around 60 policymakers, investors, diplomats, academics and entrepreneurs from India and Japan to explore opportunities for bilateral collaboration.
The day opened with a welcome address by Anand Prasanna, Managing Partner, Iron Pillar, and Archish Mittal, Vice President, Iron Pillar, who outlined the vision behind the report: to move the India–Japan relationship beyond longstanding strategic ties towards deeper economic integration by identifying opportunities across capital, technology, manufacturing, supply chains and talent, and exploring how bilateral intent can translate into sustained collaboration. Dr. Henrik Syse, Norwegian philosopher and Vice Chair, Scandinavia Japan Sasakawa Foundation delivered the keynote address, reflecting on the importance of international cooperation, mutual understanding and cross-border engagement in navigating an evolving geopolitical landscape.
The report brings together 27 independent views from a wide variety of perspectives, from policymakers, academics, investors, entrepreneurs and industry leaders. including Anand Prasanna, Managing Partner, Iron Pillar; Archish Mittal, Vice President, Iron Pillar; Ashish Dhawan, Founding Chairperson, Board of Trustees, Ashoka University; Prof. K. VijayRaghavan, Chair, Science Advisory Council, Ashoka University and Former Principal Scientific Adviser to the Government of India; Dr. Prachi Mishra, Dean, Ashoka School of Economics (RJSEF), Director and Head of Ashoka Isaac Center for Public Policy (ICPP); and Dr. Henrik Syse, Norwegian philosopher and Vice Chair, Scandinavia Japan Sasakawa Foundation, among others. Their contributions, alongside those of experts from global investment, technology and policy institutions, offer new perspectives on the economic, technological, talent and strategic dimensions of the India–Japan partnership.
The report also features a foreword by Michael A. Spence, Nobel Laureate in Economics and Dean Emeritus, Stanford Graduate School of Business, and traces the evolution of India–Japan relations from decades of development finance, infrastructure and manufacturing cooperation towards a broader economic partnership. It identifies significant opportunities to deepen engagement across finance, technology, manufacturing, supply chains, innovation and talent, with contributions examining areas ranging from private capital and semiconductors to AI, deep tech, space and workforce mobility.
The event also marked the announcement of a partnership between Asian Development Bank Institute (ADBI) and Ashoka University, opening avenues for further collaboration and strengthening institutional engagement between India and Japan.
India–Japan Economic Corridor report comes at a significant moment in the bilateral relationship. At the 16th India–Japan Annual Summit in July 2026, the two countries reaffirmed a target of ¥10 trillion in Japanese private-sector investment in India by 2035, alongside deeper cooperation in economic security, artificial intelligence, energy resilience and trade. The report, however, notes that the strategic relationship has grown faster than the economic relationship, with Japan sourcing less than 1% of its imports from India and India accounting for around 4% of Japan’s outbound investment.
The report further argues that India and Japan bring complementary economic strengths—Japan contributes capital, technology and industrial expertise, while India offers a young workforce, strong growth potential and significant demand for capital. However, it emphasises that capital alone will not be enough; deeper economic integration will require stronger intermediaries, greater talent mobility, clear mechanisms to track delivery, and greater institutional predictability.
Archish Mittal, Vice-President, Iron Pillar, and Co-Chair, Iron Pillar Initiative in Global Learning, Ashoka University, said, “India and Japan have a longstanding history of mutual trust and cooperation. The opportunity now is to build the institutional and economic connections that can translate this foundation into deeper collaboration across capital, technology and talent. This report brings together diverse perspectives on how we can move from intent to sustained engagement.”
Prof. K. VijayRaghavan, Chair, Science Advisory Council, Ashoka University, and Co-Chair, Iron Pillar Initiative in Global Learning, said, “India and Japan bring complementary strengths to the relationship. Japan’s industrial capabilities, technology and capital can connect meaningfully with India’s talent, scale and innovation ecosystem. The next phase will depend on creating stronger pathways for researchers, businesses, investors and young talent in both countries to work together. This report is a timely reminder of the opportunity to take the India–Japan relationship beyond strategic ties towards deeper economic and industrial collaboration, built on stronger connections across capital, technology, talent and institutions.”
The report is deliberately designed to open up a conversation rather than present a single consensus view or policy prescription, bringing together diverse expertise to examine new pathways for India–Japan economic collaboration. A central finding of the report is the need to address the “missing middle” between government-led frameworks and large corporate engagements. It highlights the importance of fund managers, intermediaries, startups, mid-sized suppliers and institutions that can translate bilateral intent into sustained commercial, investment and research partnerships. The report also identifies the growing importance of resilient supply chains and economic security as India and Japan respond to shifts in the global economic landscape.
Technology emerges as another significant area of opportunity, with the report highlighting the potential to combine Japan’s manufacturing excellence and industrial capabilities with India’s strengths in AI, digital technologies and entrepreneurship. It also emphasises the importance of two-way talent mobility, including greater movement of students, researchers, skilled professionals and entrepreneurs between India and Japan. It argues that stronger education, research and workforce linkages can create lasting institutional connections and support the broader economic relationship.
The launch of the report is one of the first outcomes of the Iron Pillar Initiative in Global Learning (IGL), a joint initiative of Ashoka University and Iron Pillar established on September 28, 2026. IGL seeks to build sustained relationships among scholars, institutions, practitioners and students, creating pathways for research, internships, international learning and cross-border intellectual exchange. Through the initiative, Ashoka aims to act as a catalyst and connector, bringing together students, researchers, practitioners, policymakers and international institutions to enable the exchange of knowledge, talent, technology and ideas. The India–Japan Economic Corridor report is one of the first examples of this broader vision, with IGL set to facilitate further research collaborations, international partnerships and global academic engagement.