Prime Minister Narendra Modi is on a two-day visit to Japan to participate in the 15th India-Japan annual summit. A key part of his visit involves a meeting with Japanese PM Kishida. Following his engagements in Japan, PM Modi will travel to China on August 31. He began his trip by meeting with members of the Indian community.
At the India-Japan Joint Economic Forum in Tokyo, Modi promoted India as a prime location for investment, noting that Japanese companies have invested over $40 billion in India. The partnership between the two nations extends from semiconductors to startups, reflecting strong mutual trust.
Modi emphasized that Japan has consistently been a vital partner in India’s developmental journey. He highlighted the collaborations in metro projects, manufacturing, semiconductors, and startups, showcasing the robust relationship between the two nations. He also shared that in just the past two years, private investment has reached $30 billion.
Looking ahead, Modi stated that India is set to become the third-largest economy in the world. He highlighted the transformation India has seen over the past 11 years, marked by political stability, economic stability, and transparent policies. He noted that India is currently the fastest-growing major economy.
He stated that the reforms extend beyond just the tax system, highlighting the focus on making it easier to do business and introducing a single digital window for approvals. The reforms support the vision to build a developed India and the world recognizes this.
Modi noted that S&P Global has upgraded India’s credit rating. He pointed out that the world is counting on India. He stated that the successful automotive sector partnership could be replicated in areas like batteries, robotics, semiconductors, shipbuilding, and nuclear energy. He encouraged investment in India and collaboration to aid in the growth of the Global South, especially in Africa.