Prime Minister Narendra Modi’s two-day visit to Japan for the 15th India-Japan annual summit underscores the importance of the bilateral relationship. The Prime Minister is set to meet with Japanese PM Kishida. Following this visit, PM Modi is scheduled to travel to China on August 31st. Before his official engagements, he met with members of the Indian diaspora.
Addressing the India-Japan Joint Economic Forum in Tokyo, Modi positioned India as a premier investment destination. He emphasized the significant investments made by Japanese companies, exceeding $40 billion. This partnership spans diverse sectors, including semiconductors and startups, representing a deep-rooted mutual trust.
Modi highlighted Japan’s continuous role as a key partner in India’s growth trajectory. He referenced collaborative efforts in areas like metro projects, manufacturing, and startups as proof of the strong relationship. He also stated that the private investment alone has amounted to $30 billion in the last two years.
Modi projected that India will become the world’s third-largest economy soon. He highlighted India’s rapid development over the past 11 years, noting political and economic stability, along with transparent policies. India is currently the fastest-growing major economy globally.
He emphasized the focus on making doing business easier and implementing a single digital window for approvals. The reforms support the vision of a developed India, and the world is noticing and appreciating the country’s progress. S&P Global recently upgraded India’s credit rating.
Modi pointed out that the world is watching India and counting on it. He hopes that the successful partnership in the auto sector will be replicated in batteries, robotics, semiconductors, shipbuilding, and nuclear energy. He invited investment in India, and expressed his vision to help the Global South, particularly in Africa.