Tokyo, NFAPost: Prime Minister Narendra Modi chaired a roundtable with Japanese business leaders on Monday in Tokyo. Top executives and CEOs of 34 Japanese companies participated in the event and majority of these companies have investments and operations in India.
Prime Minister Narendra Modi said Indo-Japan partnership is for peace, stability and prosperity. “I trace the journey of our special friendship which completes 70 glorious years,” he said.
“Closer India-Japan cooperation is vital in the post-COVID world. Our nations are firmly committed to democratic values. Together, we are key pillars of a stable and secure Indo-Pacific region. I am equally glad that we are working closely in various multilateral forums as well,” said Prime Minister Narendra Modi.
He also mentioned that he had the opportunity of regularly interacting with the Japanese people since his days as Gujarat Chief Minister.
“Japan’s developmental strides have always been admirable. Japan is partnering India in key sectors including infrastructure, technology, innovation, start-ups and more,” said Narendra Modi.
The companies represented diverse sectors including automobiles, electronics, semiconductors, steel, technology, trading and banking & finance.
Key business bodies and organisations from India and Japan such as Keidanren, Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Japan-India Business Consultative Committee(JIBCC) and Invest India also participated in the event.
Stressing that India and Japan are natural partners, Prime Minister lauded the business community as brand ambassadors of the immense potential of India-Japan ties.
“During the visit of Prime Minister Kishida to India in March 2022, both countries set an ambitious target of investment of Japanese Yen 5 trillion over the next 5 years,” said Prime Minister Narendra Modi.
Prime Minister highlighted recent developments in economic ties, such as India-Japan Industrial Competitiveness Partnership (IJICP) and Clean Energy Partnership, among others. He talked about initiatives such National Infrastructure Pipeline (NIP), Production Linked Incentive (PLI) scheme, and semiconductor policy and highlighted the robust startup ecosystem of India.
“Met top business leaders in Tokyo. Our conversations focussed on diverse topics ranging from innovation to investments, tech to textiles, reforms to StartUps. There is great enthusiasm towards India and there is great appreciation for the entrepreneurial skills of India’s youth,” Narendra Modi tweeeted.
Prime Minister noted that despite the slowdown in global FDI, India has attracted record FDI of $84 billion in the previous financial year. He termed this a vote of confidence of India’s economic potential. He invited greater participation by Japanese companies in India and proposed celebrating Japan’s contribution to India’s development journey in the form of a ‘Japan Week’.
According to Arvian Research, India has more than 4000 registered Japanese companies in India.
