Prime Minister Narendra Modi, speaking at the India-Japan Economic Forum in Tokyo on Friday, said that the world is not just watching India but also counting on India.
The Indian Prime Minister called India the springboard for Japanese business to the Global South. He pitched for a partnership with Japan in the area of manufacturing, technology, innovation, green energy, and skill development at the key economic forum meet.
“Japan’s excellence and India’s scale can create a perfect partnership.” He said, technology of Japan and talent of India can together lead the tech revolution of this century.
In India, capital doesn’t just grow, it multiplies, asserted the Prime Minister. “You are all aware of the growth and transformation that have taken place in India over the last 11 years,” he said while addressing the conclave.
Today, India has political stability, economic stability, transparency in policy, and predictability, he said. “Today, India is the fastest-growing major economy in the world. And, very soon, it is going to become the third largest economy in the world.”
He said, India contributes 18 per cent to global GDP, and the country’s markets are delivering strong returns. “Our approach of reform, transform, and perform is driving all this progress…”
India and Japan’s partnership is strategic and smart, Modi stated. “Powered by economic logic, we have turned shared interests into shared prosperity.”
“India has taken bold and ambitious initiatives in AI, semiconductor, quantum computing, biotech, and space. India-Japan have signed an agreement on Joint Credit Mechanism for cooperation on clean fuel and green future…” he said.
Talking about the GST reforms, he said India has introduced new and simplified income tax compliances. Our reforms are not limited to taxation – we have focused on ease of doing business and created a single digital approval window, he added. “We have rationalised 45,000 compliances and also formed a committee for deregulation. The defence and space sectors have been opened to private players, and we are also opening our nuclear sector… The world is not just watching India, it is counting on India.”
He also reiterated that India is going to become the third-largest economy in the world.
PM Modi arrived in Tokyo on Friday morning, beginning a two-day official visit to attend the 15th India-Japan Annual Summit.
This marks his first standalone visit to the country in nearly seven years, aimed at deepening bilateral ties and advancing the Special Strategic and Global Partnership with Japan.
The visit comes at the invitation of Japanese Prime Minister Shigeru Ishiba.
Following the Japan visit, he will travel to China from August 31 to September 1 to attend the Shanghai Cooperation Organisation (SCO) Summit in Tianjin.
