India and Japan on Friday announced plans to attract 10 trillion yen (about USD 68 billion) in investment from Japan to India over the next decade, focusing on small and medium enterprises and start-ups.
The ambitious goal is part of the growing partnership between the two nations, which also includes a Digital Partnership and AI Cooperation Initiative comprising collaboration in digital public infrastructure, digital talent development, and joint R&D in emerging technologies like AI, IoT, and semiconductors.
Both nations agreed to strengthen their special strategic and global partnership with a focus on cooperation in key areas such as investment, innovation, economic security, environment, technology, health, mobility, people-to-people exchanges, and state-prefecture partnerships.
PM Modi is currently in Tokyo to attend the 15th India-Japan Annual Summit at the invitation of Japanese Prime Minister Ishiba.
“We have laid a strong foundation for a new and golden chapter in our special strategic and global partnership,” PM Modi said during a joint press meet. “Today, our discussion was both productive and purposeful. We both agree that as two of the world’s largest economies and vibrant democracies, our partnership is not only crucial for our countries but also for global peace and stability,” PM Modi said, asserting: “We aim to attract 10 trillion yen in investment from Japan to India over the next decade, with a focus on small and medium enterprises and start-ups,” PM Modi said.
Prime Minister Modi and his Japanese counterpart Shigeru Ishiba held a bilateral meeting in Tokyo on Friday, discussing ways to enhance cooperation between the two nations. “We have laid a strong foundation for a new and golden chapter in our special strategic and global partnership,” PM Modi said during a joint press meet.
Key highlights of the partnership also include:
India-Japan Joint Vision for the Next Decade: A 10-year strategic plan prioritizing economic and functional cooperation in eight key areas.
Defence and Security: Enhanced cooperation in defense and maritime security, including joint efforts to combat terrorism and cybersecurity threats.
Space Exploration: Collaboration on the Chandrayaan-5 mission, a landmark partnership in space exploration.
Sustainable Development: Initiatives like the Sustainable Fuels Initiative and Battery Supply Chain Partnership will promote clean energy and sustainable development.
Human Resource Exchange: A plan to promote the two-way exchange of 500,000 people between India and Japan.
India and Japan are committed to a free, open, peaceful, prosperous, and rules-based Indo-Pacific region. “Today, our discussion was both productive and purposeful. We both agree that as two of the world’s largest economies and vibrant democracies, our partnership is not only crucial for our countries but also for global peace and stability,” PM Modi added.
India and Japan are committed to a free, open, peaceful, prosperous, and rules-based Indo-Pacific region. They will enhance cooperation in defence and maritime security, including joint efforts to combat terrorism and cybersecurity threats.