Prime Minister Narendra Modi addressed the India-Japan Business Forum, highlighting the special economic relationship between the two countries and announcing several significant initiatives and targets. He revealed that the Prime Minister's Office will organize a dedicated Japan Business Week where senior PMO officials will engage directly with Japanese businesses to address concerns and hold in-depth discussions on enhancing ease of doing business, with the objective of facilitating greater Japanese investment and partnership in India.
Modi cited India's strong economic performance, noting that the country recorded a GDP growth rate of 7.7% in the last financial year, making it the world's fastest-growing major economy. He emphasized that Japan Bank for International Cooperation (JBIC) has ranked India as the most promising destination for Japanese businesses for the fourth consecutive year. The Prime Minister also highlighted that nearly two-thirds of Suzuki's cars worldwide are manufactured in India and exported to more than 100 countries, while motorcycles manufactured in India by Kawasaki, Yamaha, and Honda are being exported to global markets.
The leaders concluded agreements across economic security, artificial intelligence, defence, and healthcare to make the partnership future-oriented. Modi set concrete targets for the relationship, calling for Japanese investment in India to surpass 10 trillion yen over the next decade and to double the number of Japanese companies operating in India during the same period. He outlined a vision where Japan's technology and India's market potential would create resilient supply chains in semiconductors, pharmaceuticals, and critical minerals, while Japanese capital and India's ambition would create global leadership in shipbuilding, mobility, and clean energy.