Modi says ‘Together, we will shape the Asian century’ at Economic Forum in Tokyo
By Anjali Sharma
WASHINGTON – Narendra Modi on Friday was greeted by members of the Indian diaspora upon his arrival in Japan.
He addressed the India-Japan Economic Forum, and over the next two days will engage in extensive discussions on regional and global peace, security, and other areas of cooperation.
Modi attended the 15th India-Japan Annual Summit at the invitation of his counterpart, Shigeru Ishiba.
He held wide range of discussions on regional and global peace, security, and other key areas of cooperation.
‘The world is not just watching India, it is counting on India’
Modi addressed the India-Japan Economic Forum. “Strong business ties between our nations are a vital element of our friendship,” he said.
He added that in every sector, our partnership stands as a symbol of mutual trust. Japanese companies have already invested over 40 billion dollars in India. In just the last two years, private investment has grown significantly,”.
Modi stated that India today is one of the most promising destinations for investors. According to JETRO, nearly 80 percent of Japanese companies are keen to expand their presence in India. In our country, capital does not merely grow it multiplies, he said.
“You are all aware of the unprecedented transformation India has undergone in the last 11 years. Today, there is political and economic stability, policies are transparent, and the system offers predictability. India is the fastest-growing major economy in the world and is on course to soon become the third-largest global economy,” he said.
He noted that India has a strong banking sector, low inflation, and low interest rates. India is also opening up it nuclear energy sector.
“Behind all of this lies our resolve, our conviction, and our clear strategy to develop India,” he added.
“The world has recognized this progress. Recently, S&P Global upgraded India’s credit rating outlook. The world is not just watching India anymore it is counting on India,” he concluded.
Modi also highlighted the agreement signed between the two nations in the field of clean fuel.
“India has taken bold and ambitious initiatives in AI, semiconductor, quantum computing, biotech, and space. The technology of Japan and the talent of India can together lead the tech revolution of this century… India-Japan have signed an agreement on Joint Credit Mechanism for cooperation on clean fuel and green future…” stated PM Modi.
PM Modi shared a vision of shaping the Asian century in partnership with Japan.
He said, “India’s skilled youth talent has the potential to meet global demand, and Japan can also benefit from this. You should train Indian talent in the Japanese language and other skilled areas to create a Japan-ready workforce together. This skilled workforce will fulfill global requirements…”
Modi received a warm welcome from the Indian diaspora and Japanese citizens in Tokyo.
He tweeted that he was deeply moved by the affection shown by the Indian community. Several Japanese nationals even donned traditional Indian attire to greet the Indian Prime Minister.
He said “Deeply touched by the warmth and affection of the Indian community here in Tokyo. Their commitment to preserving our cultural roots while contributing meaningfully to Japanese society is truly commendable. In a few hours from now, will be interacting with a group of business leaders with a focus on adding vigour to India-Japan trade and investment ties.”
According to a Bloomberg report, Modi’s two-day trip may see investment commitments of $68 billion, alongside the signing of an economic security pact centred on semiconductors, critical minerals, and AI.
India and Japan are close to finalize an agreement to manufacture next-generation E10 Shinkansen bullet trains in India a project being compared in scale and impact to the Maruti Suzuki joint venture of the 1980s.
Prime Minister arrived in Tianjin, China, for the Shanghai Cooperation Organization Summit, where he is slated to meet Chinese President Xi Jinping on August 31.
