Prime Minister Narendra Modi on Friday invited Japanese investors to India, saying, "Come make in India, make for the world." He made these remarks while delivering a speech at the India-Japan Joint Economic Forum in Tokyo.
Modi arrived in the Japanese capital this morning for a two-day visit, for which he is to attend summit talks with his Japanese counterpart, Shigeru Ishiba.
"Japan has been a key partner for India from semiconductors to start-ups. Japanese companies have invested over $40 billion in India," PM Modi said.
Japan-based media outlet Nikkei Asia reported that Tokyo intends to invest a total of 10 trillion yen (or approximately $68 billion) over the next ten years to enhance its business partnerships with India. The investment will be allocated to multiple sectors such as artificial intelligence, semiconductors, environmental objectives, and medical applications.
"80 per cent of companies want to expand in India. 75 per cent are already in profit in India. In India, capital does not just grow; it multiplies. In the last 11 years, India has seen unprecedented transformation -- political stability, economic stability, and transparency in policy. India is the world's fastest-growing major economy and will be the third-biggest economy soon," PM Modi said.
During Prime Minister Narendra Modi's trip, he will visit Tokyo's Electron Factory and Tohoku Shinkansen facility in Sendai, where bullet train coaches are produced. During the tour Prime Minister Modi will be joined by Prime Minister Shigeru Ishiba, and the two leaders will likely advance discussions relating to Japan's involvement in India's high-speed rail project.
"Together, we can make a significant contribution to the development of the Global? South, especially Africa. I urge you - come, make in India, make for the world. The success stories of 'Suzuki' and 'Daikin' can become your success stories too," PM Modi said.
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