India should do more than just watch cracks. India needs to step forward and present itself as a credible alternative destination for Japan's capital, which is heavily invested into a United States that now openly intends to erode the value of their investment. Given that Japan is America's largest creditor with the highest exposure, this will be like Hiroshima/Nagasaki 2.0 for them.
The best way for India to become a credible destination for such capital is to address its own fundamentals and actually make itself worthy of investment, rather than merely waiting expectantly for good things to fall into its mouth, or else relying on hype.
Japan's history as Asia's first Great Power, which was the earliest to emerge onto global stage through techno-industrial-military might, can make it a powerful catalyst in India's rise, especially through partnership in defense development, (Hint: their fighter engine technology program is certainly worth a closer look, among so many other things. If anyone understands ceramic blade coatings, it's them)
Japan's post-war constitution, written by conquering General Douglas MacArthur, forbids it from engaging in massive defense spending, and creating large production houses for this purpose. But there's no prohibition on getting that production done through India, by investing over there.
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