During a two-day visit to Japan for the 15th India-Japan annual summit, Prime Minister Narendra Modi highlighted the importance of the partnership between the two nations. He is scheduled to meet with Japanese Prime Minister Kishida. Following his visit to Japan, PM Modi will travel to China on August 31st. Earlier, he interacted with the Indian diaspora.
Speaking at the India-Japan Joint Economic Forum in Tokyo, Modi stated that India is an attractive investment destination. He noted that Japanese companies have invested over $40 billion in India. The partnership encompasses sectors from semiconductors to startups, reflecting a strong mutual trust.
PM Modi emphasized that Japan has been a crucial partner in India’s development. He cited the collaboration in various sectors, including metro projects, manufacturing, semiconductors, and startups, as symbols of the strong relationship. He also mentioned that in the last two years alone, private investment has reached $30 billion.
Modi also projected that India would soon become the world’s third-largest economy. He emphasized India’s significant transformation over the past 11 years, including political and economic stability and transparent policies. He noted that India is the world’s fastest-growing major economy.
He stated that the reforms have gone beyond tax systems, focusing on the ease of doing business and the implementation of a single digital window for approvals. He appealed to the audience to acknowledge and appreciate India’s progress, with S&P Global upgrading India’s credit rating after two decades.
Modi stressed that the world is looking towards India and counting on its progress. He highlighted the successful automotive sector partnership and expressed his desire to replicate this success in batteries, robotics, semiconductors, shipbuilding, and nuclear energy. He invited investments in India and encouraged collaboration to contribute to the Global South’s development, particularly in Africa.