PM Modi Calls for Deeper Trade and Tech Ties with Japan
Prime Minister Narendra Modi, speaking at the India‑Japan Economic Forum on July 3, reaffirmed the strategic importance of the Indo‑Japanese economic partnership. He called for intensified cooperation in high‑value trade, joint research, and next‑generation technology platforms.
The address noted that several Japanese companies have been part of India’s industrial fabric for generations, some tracing back more than a century. New entrants to the forum were personally congratulated for choosing to be part of a story that blends Japan’s precision engineering with India’s massive consumer base.
Modi specifically referenced the inauguration of a new Maruti Suzuki manufacturing unit in Kharkhoda, Haryana, underscoring that roughly two‑thirds of Suzuki’s worldwide vehicle production now takes place in India, with exports to over 100 nations. He also shared a light‑hearted moment with Prime Minister Fumio Kishida about a shared enthusiasm for motorcycles, noting that Japanese brands like Kawasaki, Yamaha and Honda are now leveraging Indian factories to serve global markets.
The Prime Minister pointed out that when Japanese expertise in air‑conditioning, power‑grid components or medical technology merges with India’s scale, the resulting products benefit consumers worldwide. He acknowledged ongoing global challenges—supply‑chain bottlenecks, trade volatility and softened demand—but highlighted India’s 7.7% GDP growth as evidence of resilience.
Recent reforms aimed at simplifying tax compliance, improving governance and enhancing ease of doing business have opened all sectors to private participation, creating a fertile ground for Japanese investors. According to a recent JICA survey, India has retained its rank as the fourth‑most attractive market for Japanese firms for the fourth straight year.
Concluding the speech, Modi unveiled a special "Japan Business Week" to be hosted by the Prime Minister’s Office, during which senior officials will meet Japanese business leaders to discuss practical measures for deepening trade, investment and technology collaboration.