Japan and India Hold Second Economic Security Dialogue, Deepening Cooperation on Semiconductors and Critical Minerals
Primary region Asia
Tags Economy · Trade
Regions Asia
Japan and India held their second bilateral economic security dialogue in New Delhi on May 11, 2026, agreeing to advance cooperation across five strategic sectors: semiconductors, critical minerals, ICT/AI, clean energy, and pharmaceuticals. The dialogue, co-chaired by Indian Foreign Secretary Vikram Misri and Japanese Vice Foreign Minister Takehiro Funakoshi, is part of the Economic Security Initiative launched at the August 2025 annual summit. Both sides reviewed recommendations from a prior private-sector dialogue between CII and Keidanren. Discussions also covered energy security cooperation in light of the Middle East conflict. Funakoshi separately met with U.S. Ambassador to India Sergio Gor to discuss a likely Quad foreign ministers meeting later in May.
Strategic interpretation
The Japan-India economic security dialogue is a concrete step in building alternative supply chains that reduce dependence on China for critical minerals and semiconductors. The discussion of Quad foreign ministers meeting suggests this bilateral track is being integrated into the broader U.S.-led Indo-Pacific security architecture. For India, deepening ties with Japan complements its 'multi-alignment' strategy of engaging all major powers without formal alliances.