India and Japan share
a long-term relationship structured over half a century, which
forms the bedrock of Indo-Japanese cooperation today. Both
countries share great affinity ona number of issues with interests
converging in areas such as energy and similar concerns about
the security of sea lanes, of communication, WMD proliferation
and terrorism.The India-Japan Declaration of December 10,2001
has further set the ball rolling for things to shape up in
Indo-Japanese relationship in the 21st century.
Both, India and Japan
are currently going through economic reforms in different
forms and shapes with the ultimate object of architecting
a stronger economy. While Japan is implementing structural
economic reforms, India is in the process basic economic reforms.
India is now the largest partner for Japan's yen loan, and
both countries support each others' candidacy for permanent
membership of the UNSC.