Proud of 'Make in India' movement in Japan: PM Modi

Prime Minister Narendra Modi on Saturday said he is proud of the 'Make in India' movement going on in Japan with a $12 billion fund, which shows the two nations are moving in the right direction.

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"We understand the concept of Make in India in our country, but we are proud to say that in Japan, the Make in India movement is going on. Today, there is a Make in India movement in Japan with a $12 billion fund. This shows that the two nations are moving in the right direction," said Prime Minister Modi at Business Leaders Forum, which was also attended by his Japanese counterpart Shinzo Abe here.

At a time when there is a slowdown in the world economy, Prime Minister Modi, Japan and India are pacing towards high growth rate.

Talking about his 'Make in India' concept, Prime Minister Modi said for the first time Japan will be importing Maruti cars manufactured in India.

"This the first time that Japan will import cars from India. And, they will manufacture Maruti cars in India. It means that the new models of Maruti will be manufactured in India and will be imported by Japan from India. The cars will also be imported globally," he said.

"At a time when there is a slowdown in the world economy, the Japan economic analysis report was out yesterday (on Friday) which is so encouraging. Similarly, India's manufacturing growth figures that was out yesterday is 10.6 percent and Index of Industrial Production (IIP) rose to 9.8 percent. This all indicates the rising growth in India. Policy decision, effective implementation, states on board these are some of the steps we have taken and the results are visible," Prime Minister Modi added.

Addressing the business leaders of Japan and India, he said India needs not just high speed train, but high speed growth as well.

"India is a country of possibilities. Human resource is major strength of the country, while technology is the strength of Japan. We have to think how we move forward with mutual cooperation of human resources and technology," he added.

Prime Minister Modi and his Japanese counterpart Shinzo Abe is also scheduled to visit the holy city of Varanasi today where they will also be attending 'Ganga Aarti' at famous Dasaswamedh Ghat.

The visit assumes significance as it comes against the backdrop of Partner City Agreement between Kyoto and Varanasi, Modi's Lok Sabha constituency, signed by the two leaders during the Prime Minister's visit to Japan in August last year.