 "Prime Minister Narendra Modi and Japan's Prime Minister Shigeru Ishiba shake hands during a joint press conference in Tokyo, Japan on Friday. Reuters")
Prime Minister Narendra Modi on Friday said that India and Japan have set a target of 10 trillion yen (approximately $68 billion) in Japanese investments into India over the next ten years.
Addressing a joint briefing alongside Japanese Prime Minister Shigeru Ishiba, PM Modi said, “We have set a goal of investment of 10 trillion yen from Japan in India in the next 10 years. Special emphasis will be laid on connecting India’s and Japan’s small and medium enterprises and startups.”
Describing his discussions with Japanese PM as both “productive and purposeful,” PM Modi said that as the two largest economies of the world and living democracies, India-Japan partnership is essential not just for the two countries but also for global peace and security.
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More Shorts“Strong democracies are natural partners in shaping a better world. Today, we have laid the foundation of a new and golden chapter in our special strategic and global partnership,” he added.
PM said that a clear roadmap has been charted for the next decade.
“At the center of our vision lie investment, innovation, economic security, environment, technology, health, mobility, and people-to-people exchanges,” the Prime Minister added.
PM Modi said while addressing the India-Japan Business Forum, he urged Japanese companies to deepen their engagement with India’s manufacturing sector.
Emphasising India’s potential as a global production hub, PM Modi said, “Even in the India-Japan Business Forum, I told the Japanese companies — Make in India, Make for the World.”
PM Modi also announced a series of new initiatives to deepen India-Japan cooperation in green energy and economic security.
“Our Joint Crediting Mechanism for energy is a major victory. It shows that our green partnership is as strong as our economic partnership. In this direction, we are also beginning the sustainable fuels initiatives and battery supply chain partnership. We are launching the economic security cooperation initiative. Under this, we will go ahead in critical and strategic sectors, with an extensive approach,” he added.
Earlier in the day, PM Modi held summit talks with Ishiba, with an aim to further expand overall bilateral ties, including in areas of trade, investment and emerging technologies.
The two leaders met for the 15th India-Japan summit hours after PM Modi landed in the Japanese capital.
Before the summit talks, the prime minister, addressing the India-Japan Business Forum, said Japan’s technology and India’s talent together can lead the tech revolution of this century.
Former Japanese prime ministers Yoshihide Suga and Fumio Kishida also called on PM Modi.
The volume of India-Japan bilateral trade was recorded at $22 billion in 2023–24.
Japan is India’s fifth-largest source of foreign direct investment, with $43.2 billion cumulative investment recorded up to December 2024.
With inputs from agencies