Prime Minister Narendra Modi is on a two-day visit to Japan to participate in the 15th India-Japan annual summit. He is scheduled to meet with Japanese PM Kishida. Following his Japan visit, PM Modi will travel to China on August 31st. Prior to his arrival, he met with Indian expatriates. Addressing the India-Japan Joint Economic Forum in Tokyo, Modi emphasized that India is an ideal destination for investment.
He noted that Japanese companies have invested over $40 billion in India. The partnership between the two nations spans various sectors, from semiconductors to startups, symbolizing mutual trust.
Modi stated that Japan has consistently been a crucial partner in India’s developmental journey. He highlighted the collaborative efforts in diverse fields such as metro projects, manufacturing, semiconductors, and startups, which exemplify the strong bond between the two countries.
He mentioned that Japanese companies have invested more than $40 billion in India. Private investment alone has reached $30 billion in the last two years.
Modi also projected that India will soon become the world’s third-largest economy. He highlighted the significant transformation India has undergone in the past 11 years. He pointed out India’s current political and economic stability, along with transparent policies. He also noted that India is the world’s fastest-growing major economy.
He stated that the reforms go beyond the tax system, emphasizing the ease of doing business and the implementation of a single digital window for approvals.
PM Modi appealed to the audience to recognize and appreciate India’s progress. S&P Global has upgraded India’s credit rating after two decades. He emphasized that the world is not just watching India; it is counting on India.
In his address, PM Modi highlighted the success of the automotive sector partnership. He expressed the desire to replicate this success in batteries, robotics, semiconductors, shipbuilding, and nuclear energy. He also expressed his vision for India and Japan to contribute significantly to the development of the Global South, particularly Africa. He urged everyone to invest in India and collaborate to build a better world.