Prime Minister Narendra Modi on Friday in the Japanese capital city of Tokyo said that India is a “powerhouse of talent” and called on business leaders to “make in India and make for the world.”
Beginning his address to the India-Japan Economic Forum in Tokyo with “Namaskar, Konnichiwa,” the Prime Minister cited the rapid growth and transformation in India, its political and economic stability, farsightedness in policy and predictability to pitch for India as an investment hub.
“Today India is the world’s fastest growing economy and is on its way to become the world’s third largest economy,” PM Modi noted.
He said that from metro to manufacturing, from semiconductors to start-ups, the partnership between the two countries in every sector has become a symbol of mutual trust.
The Prime Minister pitched for a partnership with Japan in the area of manufacturing, technology, innovation, green energy, and skill development.
“In manufacturing and the auto sector, our collaboration has been highly successful as the Prime Minister (Shigeru Ishiba) has already elaborated. We can create the same magic together in batteries, robotics, semiconductor ship buildings and nuclear energy,” Prime Minister Modi said.
“India and Japan’s partnership is strategic and smart. Powered by economic logic, we have turned shared interests into shared prosperity. India is the springboard for Japanese business to the Global South. Together, we will shape the Asian century for stability, growth and prosperity,” the Prime Minister said.
India and Japan can together contribute to the Global South, especially in the ‘vikas’ of Africa, he added.
Hailing the India-Japan partnership, Prime Minister Narendra Modi said that Japanese companies have invested USD 13 billion in India in just the last two years.
He said that the report on the India-Japan business forum that has just been presented notes that “India is the most promising destination” and highlights the business deals between companies in detail.
“…80 per cent of companies want to expand in India. 75 per cent of companies are making profits. In India, capital does not just grow, it multiplies.” PM Modi said.
He said that India’s skilled workforce will fulfil global requirements.
“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 fulfil global requirements”
“A shared workforce will lead to shared prosperity,” the Prime Minister added.
Prime Minister Modi further said that the two countries can collaborate for green energy transition to achieve the target of 500 GW of renewable energy by 2030.
“India is rapidly moving toward achieving a target of 500 GW of renewable energy by 2030. We have also set a goal of 100 GW of nuclear power by 2047. Be it solar cells or green hydrogen, there are immense partnership opportunities between India and Japan. By leveraging the joint credit mechanism, we can collaborate in building a clean and green future,” PM Modi said.
Further, the Prime Minister said that over the last decade India has made unprecedented progress in next-gen mobility and logistics infrastructure.
“Our port capacities have doubled… with Japan’s cooperation, work is underway on the Mumbai-Ahmedabad high-speed rail project. But our journey doesn’t stop here Japan’s excellence and India’s scale can create a perfect partnership…” PM Modi said.
In his concluding remarks PM Modi said that India and Japan will together shape Asian Century for stability, growth and prosperity.
PM Modi and his Japanese counterpart also held summit talks with his Japanese counterpart Shigeru Ishiba.
PM Modi’s previous visit to Japan for the Annual Summit was in 2018.
