Synergies in Sustainability: Progress and Prospects for India-Japan Energy Cooperation in 21st Century

Abstract

The India-Japan energy relation rolls back to 2006 when India-Japan Energy Dialogue was set up between the two nations to promote energy sector in a comprehensive manner. India sets the target to achieve net zero by 2070 while Japan by 2050. India- Japan Clean Energy Partnership (CEP) was launched in March 2020. The study gives a background to renewable energy sector along with various related initiatives in India and Japan, and sets its objective to observe the GDP growth in two nations and the requirement of renewable energy to maintain the growth with sustainability. This paper digs deeper into the strategic relationship among the two nations and the prospects of greater energy ties between them. The study utilizes graphical and descriptive method to analyze the trends and patterns of growth in energy sector employing time series data sets from 1990 to 2020. The percentage of renewable energy consumption in 2020 in Japan and India is 37% and 8%, respectively. Over the period of 2000 to 2020, both carbon emissions and energy intensity have accorded a declining trend in both nations. However, there is a huge gap between GDP between India and Japan, underlining their developing and developed nation status, respectively. Finally, the study looks into the future energy partnership to strengthen the relationship among the two nations and highlights policy directives to enhance inclusivity and sustainability to fasten the achievement of set goals. The study also brings to notice the limitations based on analysis in its way towards sustainable and inclusive development.