The Indian Commerce and Industry Association Japan (ICIJ) started 2026 with a Gashi Kokan-Kai, the traditional New Year greeting exchange, by hosting a New Year Economic Seminar on Thursday, January 29, 2026, at ICIJ Hall in Tokyo. About 50 attendees, including Indian business leaders, professionals, and members of the Indian Youth community, participated in the event.

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ICIJ President, Hon. Mr. J.S. Chandrani, began the seminar by warmly welcoming all participants. In his opening remarks, he briefly outlined ICIJ's history, its role in enhancing economic ties between India and Japan, and its significance as a platform for dialogue, cooperation, and community involvement. He highlighted the importance of productive discussions facilitated by the association’s monthly seminars.

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The seminar was graced by the presence of H.E. Nagma Mohamed Mallick, India's Ambassador to Japan, along with Ms. Debjani Chakrabarti, Minister (Economic & Commercial) at the Indian Embassy in Tokyo. Their attendance highlighted the importance of the event and underscored the strong partnership between ICIJ and the Indian Embassy.

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Key Highlights from Hon. Chairman Mr. Ryuko Hira’s Address

Mr. Hira’s keynote provided a broad overview of Japan’s economic, currency, and diplomatic outlook for 2026. Regarding the economy, Mr. Hira noted that 2025 was a transitional year marked by rising prices, steady wage increases, and interest rate adjustments, indicating Japan’s gradual shift away from prolonged ultra-loose monetary policies. Wage growth is expected to persist in 2026, driven by structural labor shortages and changing employment practices. Although inflation might temporarily slow down, the underlying trends remain stable. He pointed out that the Bank of Japan has already taken significant steps toward normalizing policy, with more calibrated tightening expected. The fiscal measures introduced at the end of 2025 aim to provide immediate support while investing in resilience and future growth.

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Mr. Hira also discussed Japan’s demographic issues, such as a declining working-age population, and stressed the importance of improving productivity, increasing workforce participation, and boosting inbound tourism to sustain economic growth. Regarding foreign exchange, he examined USD/JPY rate fluctuations in 2025 and noted that currency movements in 2026 will largely depend on policy decisions in Japan and the US, as well as global economic trends. In diplomatic matters, Mr. Hira highlighted the rapidly changing international environment and Japan’s dedication to strengthening alliances and partnerships under the Free and Open Indo-Pacific framework. He announced efforts to expand India–Japan cooperation, especially in advanced technologies, investment, and mobility of high-skilled personnel.

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Ambassador H.E. Nagma Mohamed Mallick’s Remarks

In her speech, she praised Mr. Hira’s insights and expressed strong confidence in his leadership and ICIJ’s efforts. She pledged her full support and committed to serving the Indian community in Japan. Recognizing her responsibility in her role as India’s Ambassador to Japan, she noted that although the task is substantial, she is fortunate to have a highly capable and committed team at the Embassy. The Ambassador urged the Indian community in Japan — especially the youth — to be more active in nation-building. She emphasized the diaspora’s role in enhancing India’s global presence and assured the Embassy of its ongoing support for community and economic projects.

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The seminar ended with a Networking Dinner that effectively launched ICIJ’s upcoming 2026 calendar of monthly events, paving the way for a year of valuable discussions and cooperation.