PM Modi Signals Surge In Japan's Investment Into India: '10 Trillion Yen In The Next Decade'

Prime Minister Narendra Modi, in a joint briefing following talks with Japanese counterpart Shigeru Ishiba in Tokyo on Friday, pointed towards a potential surge in Japan's investments into India over the next few years.

"We have set a goal of investment of 10 Trillion Yen from Japan in India in the next 10 years. Special emphasis will be laid on connecting India's and Japan's small and medium enterprises and startups," Modi said.

The Indian PM also pointed out that Japan and India are strong democracies, making them natural partners in shaping a better world. "We have laid the foundation of a new and golden chapter in our special strategic and global partnership," he said.

Modi emphasised in his address that semiconductors and rare earth minerals will remain in top priority.

"Cooperation in the high technology sector is a priority for both of us. In this regard, Digital Partnership 2.0 and AI Cooperation Initiative are being taken up. Semiconductors and rare earth minerals will be at the top of our agenda," he said.

Modi also spoke about a roadmap for the next decade, with a vision centred around investment, innovation, economic security, environment, technology, health, mobility, people-to-people partnership and strait- prefecture partnership.

The prime minister stated that he told Japanese companies at business forums to "Make in India, make for the world,". He also called the joint credit mechanism between India and Japan "a strong win" in the energy sector, and its shows that India's green partnership is as strong as its economic partnership.

"India and Japan are fully committed to a free, open, peaceful, prosperous and rules-based Indo-Pacific. Our concerns regarding terrorism and cyber security are the same. Our shared interests are linked to defence and maritime security. We have decided that mutual cooperation in the field of defence industry and innovation will be further strengthened," the Indian Prime Minister's Office said in a post on X.

Modi stated that India welcomes the pact made for space missions like the Chandrayaan-5 mission.

"For cooperation in Chandrayaan 5 Mission, we welcome the agreement between ISRO and JAXA. Our active cooperation will cross the boundaries of the earth and become a symbol of humanity's progress in space," he said.

Modi also noted that India and Japan are working on a high-speed rail, and under their next-generation mobility partnership, they will also make speedy progress in sectors like ports, aviation and ship-building.

"We believe that Japanese technology and Indian talent are a winning combination," Modi stated.