New Delhi [India], July 2 (ANI): India and Japan on Thursday aimed to deepen their commerce and strategic partnership by setting a goal of mobilising 10 trillion yen in Japanese funding into India over the subsequent decade.
The two nations additionally unveiled a joint roadmap to strengthen cooperation in semiconductors, quantum expertise, clear vitality and resilient provide chains.
Addressing a joint press convention after the sixteenth India-Japan Annual Summit in New Delhi with Japanese PM Sanae Takaichi, Prime Minister Narendra Modi mentioned the funding partnership between the 2 nations was gaining momentum, with 120 new enterprise agreements signed over the previous yr and Japanese investments price round USD 10 billion dedicated to India.
‘The India-Japan Investment Partnership is repeatedly strengthening. In the final one yr, about 120 new enterprise agreements have been signed, which can carry greater than 10 billion {dollars} of Japanese funding to India,’ PM Modi mentioned.
The agreements between monetary providers businesses will additional facilitate capital and funding flows, he mentioned.
‘Our purpose is obvious, within the subsequent 10 years, to take a position 10 trillion yen from Japan to India and double the variety of Japanese firms in India. The steady reforms in India have elevated the convenience of doing enterprise, which Japanese firms can even profit from,’ PM Modi mentioned.
The Prime Minister mentioned each India and Japan have ready a joint roadmap on vitality safety and financial safety in response to world uncertainties.
‘Through this, we’ll strengthen provide chain resilience in strategic areas corresponding to semiconductors, quantum and superior supplies,’ PM Modi said.
‘In the sphere of vitality safety as nicely, we have now taken a number of essential choices at present,’ he mentioned.
PM Modi additional said that to take care of conditions just like the oil shock, an essential initiative on vitality resilience was additionally taken at present.
‘Also, our cooperation in battery, inexperienced hydrogen and nuclear vitality will make an essential contribution to the world’s clear vitality future. India and Japan collectively view financial safety as shared safety and vitality transition as shared alternative and can work to vary it in that route,’ the Prime Minister said.
Meanwhile, in her deal with on the joint press assertion delivered after the bilateral assembly, the Japanese PM said that she and PM Modi had engaged in discussions over various points and the promotion of Japan-India cooperation within the space of financial safety and vitality safety was included among the many three factors they confirmed to be on the centre of their cooperation.
‘As each nations face challenges corresponding to financial weaponization and non-market practices, we have to urgently construct resilience in our vital minerals provide chains. Further, within the space of vitality safety impacted by the Middle East state of affairs, each Japan and India bear the duty to offer for region-wide vitality safety,’ Takaichi mentioned.
She said that each nations have launched a doc for the private and non-private sectors, ‘a joint assertion to have interaction in concrete motion for financial safety cooperation.’
The Japanese PM mentioned that cooperation between the 2 nations included co-creation of financial progress of each India and Japan by means of funding and innovation collaboration.
‘This is financial progress. I’m dedicated to realizing a robust financial system and aiming to boost Japan’s provide functionality and technological capabilities by means of funding in 17 strategic areas. Prime Minister Modi launched Viksit Bharat, a nationwide purpose to turn out to be a developed nation by 2047 and is strongly driving India’s progress. In this manner, we share the purpose of constructing our nations robust and affluent by means of investments sooner or later,’ Takaichi mentioned.
‘Strongly supporting our two nations to realize such widespread objectives are the enterprise neighborhood representatives who’re collaborating within the delegation from Japan. During this go to, round 120 cooperation paperwork between Indian and Japanese firms, together with two trillion yen scale funding, have been introduced. It is our need to forge a path towards future in India and Japan by means of unified efforts of private and non-private sectors,’ Takaichi mentioned.
Meanwhile, earlier at present, the leaders first held bilateral discussions earlier than main delegation-level talks. The Indian delegation included External Affairs Minister S Jaishankar, National Security Adviser Ajit Doval and Foreign Secretary Vikram Misri, together with different senior officers. Earlier within the day, Takaichi acquired a ceremonial welcome on the forecourt of Rashtrapati Bhavan.Takaichi is visiting India from July 1 to three on the invitation of Prime Minister Modi.
PM Modi had visited Japan for the fifteenth Annual Summit in Tokyo in August 2025. The Annual Summit stays the flagship platform driving the strategic agenda of the partnership. (ANI)