Capital doesn't just grow in India, it multiplies: PM Modi to Japan Inc

At the India-Japan Economic Forum, PMs Modi and Ishiba vowed deeper cooperation in semiconductors, AI, green energy, infrastructure, and skill development

Prime Minister Narendra Modi and his Japanese counterpart Shigeru Ishiba discussed ways to boost the bilateral cooperation between the two nations during the India-Japan Economic Forum held in Tokyo on Friday. They explored partnership opportunities in multiple sectors, including automobiles, semiconductors, artificial intelligence (AI), nuclear capabilities and space technology.

 

Describing Japan as an “important partner in charting India’s growth story,” Modi said, “from metros to manufacturing, from semiconductors to startups, our partnership has been strong.” He noted that Japanese firms have invested over $40 billion in India, with $13 billion in private investment in just the last two years. “India has emerged as the most prominent destination for companies, with 80 per cent looking to expand and 70 per cent already earning profits. In India, capital doesn’t just grow, it multiplies,” said Modi.

 

The Japanese PM said, “India-Japan relations are making great strides by leveraging India’s growing market,” adding that in today’s uncertain global economy, the two countries must focus on building resilient supply chains with reliable partners. Ishiba said he wishes to see India-Japan bilateral cooperation develop further.

Areas for India-Japan collaboration

Highlighting India’s strong growth momentum, PM Modi invited Japanese business leaders to invest in India and "make in India, for the world." Modi said, "The world is not just watching India, it is counting on India,” noting that S&P Global recently upgraded India’s credit rating after nearly two decades. Modi also listed various areas where India and Japan can expand their cooperation: 

• Manufacturing: The success seen in the automobile sector can be replicated in batteries, robotics, semiconductors, shipbuilding, and nuclear energy. Modi said these partnerships can also drive growth in South Asia and Africa.
• Technology: “Japan is a tech powerhouse, and India is a talent powerhouse,” Modi said. India’s push in semiconductors, AI, quantum computing, and space can combine with Japanese technology to bring transformative change.
• Green energy: India aims to achieve 500 GW of renewable energy capacity by 2030 and 100 GW of nuclear energy by 2047. Modi invited Japan to collaborate on solar cells, green hydrogen, and other clean technologies.
• Next-gen infrastructure: Over the last decade, India has doubled port capacity, expanded to over 160 airports, and developed more than 1,000 kilometres of metro rail lines. Modi said Japan can be a vital partner in this transformation.
• Skill development: With a large pool of skilled youth, India can meet global workforce demands, he said. Modi proposed Japanese language training for Indian workers to integrate them better into Japanese companies, noting that a "shared workforce will lead to shared prosperity."