Prime Minister said that during the visit of Prime Minister Kishida to India in March 2022, both countries had set an ambitious target of investment of Japanese Yen 5 trillion over the next 5 years.
New Delhi: Prime Minister Narendra Modi chaired a roundtable with Japanese business leaders on Monday in Tokyo and 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’.
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.
Prime Minister said that during the visit of Prime Minister Kishida to India in March 2022, both countries had set an ambitious target of investment of Japanese Yen 5 trillion over the next 5 years.
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.
Modi noted that despite the slowdown in global FDI, India has attracted record FDI of USD 84 billion in the previous financial year. He termed this a vote of confidence of India’s economic potential.
Top executives and CEOs of 34 Japanese companies participated in the event. Majority of these companies have investments and operations in India. The companies represented diverse sectors including automobiles, electronics, semiconductors, steel, technology, trading and banking and finance.
Key business bodies and organizations 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. He also interacted with over 700 members of Indian diaspora in Japan on 23 May 2022.
Before the event, Prime Minister met with Japanese indologists, sportspersons, and cultural artistes who are contributing to promoting cultural and people-to-people exchanges between India and Japan. Prime Minister also met Pravasi Bharatiya Samman Awardees in Japan. Indian diaspora in Japan is over 40,000.
Prime Minister appreciated the Indian Community members for their skills, talent and entrepreneurship and their connect with the motherland. Invoking Swami Vivekananda and Rabindra Nath Tagore, Prime Minister underlined the deep cultural ties that exists between India and Japan.
Modi also highlighted the various socio-economic developments and reform initiatives in India in recent years, particularly in the domains of infrastructure, governance, green growth, digital revolution. He invited the Indian Community to join and take forward the campaign of ‘Bharat Chalo, Bharat se Judo’.
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