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Japanese chemical companies like Mitsui Chemicals and Sumitomo Chemical are reallocating investments from China to India, prompted by geopolitical tensions, economic uncertainties, and growth opportunities in sectors like semiconductors. Japan's investment in China dropped 46% year-over-year in 2024, while Japanese operations in India increased by over 400 sites in three years. The Japanese government plans to double private-sector investment in India to $66 billion within the next decade, responding to India's growing economy and middle class.