Prime Minister Modi Highlights India-Japan Partnership as a Driver of Global Growth

Tokyo- Prime Minister Narendra Modi addressed the India-Japan Economic Forum in Tokyo , emphasizing the strong bilateral partnership between India and Japan across sectors such as infrastructure, manufacturing, technology, and green energy.

The Prime Minister acknowledged Prime Minister Ishiba and business leaders from both countries, noting his longstanding personal connections with several attendees. He highlighted Japan’s investments of over $40 billion in India, including $13 billion in private investments in the last two years. According to JBIC, India remains the most promising investment destination, with JETRO reporting that 80% of Japanese companies plan expansion in India, and 75% are already profitable.

“Capital in India does not just grow, it multiplies,” the Prime Minister said, underlining India’s economic stability, political stability, strong banking sector, low inflation, low interest rates, and forex reserves of around $700 billion.

Prime Minister Modi highlighted India’s rapid transformation in the last eleven years, citing major reforms including the one nation–one tax initiative, the new simplified Income Tax Code, and measures for ease of doing business. Sensitive sectors like defense, space, and nuclear energy have also been opened for private sector participation.

On strategic partnership areas, he proposed five key sectors for enhanced India-Japan collaboration:

Manufacturing: Building on successes in the auto sector, opportunities exist in batteries, robotics, semiconductors, shipbuilding, and nuclear energy.

Technology & Innovation: Leveraging Japan’s tech expertise and India’s talent pool in AI, semiconductors, quantum computing, biotech, and space.

Green Energy Transition: Supporting India’s targets of 500 GW of renewable energy by 2030 and 100 GW of nuclear power by 2047. A Joint Credit Mechanism has been signed to promote a clean, green future.

Next-Gen Infrastructure: Highlighting achievements in mobility and logistics, including 160+ airports, expanded port capacity, and ongoing high-speed rail projects in Mumbai and Ahmedabad.

Skill Development & People-to-People Ties: Training Indian youth in Japanese language and soft skills to create a “Japan-ready” workforce, fostering shared prosperity.

Concluding his address, Prime Minister Modi described India-Japan ties as strategic and smart, turning shared interests into shared prosperity, and positioning India as a springboard for Japanese businesses to the Global South.