Indian Prime Minister Narendra Modi toured a chip factory in Japan's Miyagi prefecture on Saturday, a day after he and his Japanese counterpart Shigeru Ishiba pledged deeper ties as US tariffs hit the global economy.
“We hope to work together to strengthen the semiconductor supply chain and enhance economic security,” said Ishiba, speaking to reporters after the visit.
Modi's tour of the Tokyo Electron chip factory reflects his eagerness to collaborate with Japan on technology and aligns with his aim to promote a “made in India” economy.
Modi has touted the possibility of partnerships in energy, trade and technology, calling Japan a “tech powerhouse.” “Japan's technology and India's talent can lead the global technology revolution,” he said on Friday.
Following the talks on Friday, Modi and Ishiba announced a target of ¥10 trillion ($68 billion) in private investment to India over the next 10 years — part of a broader economic security pact that covers cooperation on semiconductors, critical minerals, and artificial intelligence. The two sides also launched new initiatives to support startups, as well as to partner up on clean energy and space.
“Japan and India are strategic partners,” said Ishiba at a joint India-Japan economic forum held earlier on Friday, adding that the two economies are building a strong and stable supply chain together.
The pledge for closer ties comes as India explores a shift in its geopolitical balance and seeks to shore up support from friendly nations after relations with the US took a downturn. As part of that shift, Modi will travel to China for the first time in seven years after his trip to Japan, and is expected to meet with leader Xi Jinping.
Japan, whose key car industry has been hit hard by President Donald Trump's tariffs, is also looking to boost trade with like-minded nations as it seeks to tap into India's vast market and young demographic.
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