PM Modi Advocates for ‘Perfect Partnership’ with Japan During Tokyo Visit
Prime Minister Narendra Modi emphasized the potential for India and Japan to shape the future of Asia during his address at the India-Japan Economic Forum in Tokyo. Speaking on Friday, he highlighted India’s rapid economic growth and political stability, asserting that the nation is on track to become the world’s third-largest economy. Modi also underscored the importance of collaboration between Indian and Japanese industries, particularly in technology and manufacturing, to foster mutual development and contribute to the Global South.
India’s Economic Growth and Stability
During his speech, Prime Minister Modi outlined the remarkable transformation India has undergone over the past 11 years. He pointed out that India is not only the fastest-growing major economy but also contributes 18% to the global GDP. Modi stated, “In India, capital doesn’t just grow, it multiplies,” emphasizing the nation’s political stability and transparent policies that attract investments. He expressed confidence that India will soon become the third-largest economy in the world, a milestone that reflects the country’s ongoing reforms and commitment to economic performance.
Modi’s remarks highlighted the significant returns that Indian markets are delivering, reinforcing the notion that India is an appealing destination for foreign investment. He reiterated the government’s approach of “reform, transform, and perform,” which has been instrumental in driving the country’s economic progress. This positive outlook aims to encourage Japanese businesses to explore opportunities in India, fostering a collaborative environment for growth.
Strengthening India-Japan Collaboration
The Prime Minister emphasized the potential synergy between Japanese technology and Indian talent, suggesting that this combination could lead to significant advancements in various sectors. He remarked, “Japan’s excellence and India’s scale can create a perfect partnership,” indicating that both nations can benefit from each other’s strengths. Modi specifically mentioned the successful collaboration in the automobile sector and expressed optimism about extending this partnership into emerging fields such as robotics, semiconductors, and nuclear energy.
Modi’s vision for the future includes a robust partnership that not only enhances bilateral trade but also contributes to the development of the Global South, particularly in Africa. He called on Japanese businesses to leverage India’s capabilities as a “springboard” for accessing new markets, thereby creating a win-win situation for both countries.
Investment Opportunities in India
Highlighting India’s appeal as an investment hub, Modi pointed to the country’s stable political environment and predictable policy frameworks. He noted that these factors make India an attractive destination for foreign investors, particularly from Japan. The Prime Minister expressed his desire for Japanese enterprises to engage more deeply with India, especially in sectors where both nations have demonstrated success.
Modi’s appeal to Japanese investors included a call to “Make in India and Make for the World,” encouraging them to consider India as a base for manufacturing and innovation. He acknowledged Japan’s ongoing support in India’s development journey, which spans various sectors, including metro rail, manufacturing, and start-ups. This partnership reflects a deep mutual trust and a shared vision for economic growth.
Future Prospects for Bilateral Relations
The Prime Minister concluded his address by reiterating the importance of the India-Japan partnership in addressing global challenges. He expressed confidence that both nations could work together to make substantial contributions to the development of the Global South. Modi’s remarks underscored the potential for collaboration in diverse areas, from technology to infrastructure, which could lead to significant advancements for both countries.
As India and Japan continue to strengthen their ties, the focus remains on leveraging each other’s strengths to foster innovation and economic growth. The Prime Minister’s address at the India-Japan Economic Forum serves as a reminder of the opportunities that lie ahead for both nations as they navigate the complexities of the modern global economy.
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