Prime Minister Narendra Modi with a Japanese business delegation in New Delhi on March 5, 2025.<\/p>\n
Prime Minister Narendra Modi has reaffirmed India\u2019s deep economic ties with Japan, praising the country\u2019s steadfast commitment to the \u2018Make in India, Make for the World\u2019 initiative. His statement came after a high-level meeting with a Japanese business delegation led by Tatsuo Yasunaga on Wednesday (March 5, 2025), which underscored a shared vision for economic expansion, industrial collaboration, and technological innovation.<\/p>\n “Pleased to meet the Japanese business delegation led by Mr. Tatsuo Yasunaga today. Encouraged by their expansion plans in India and steadfast commitment to ‘Make in India, Make for the World’. Looking forward to deepening economic collaboration with Japan, our Special Strategic and Global Partner,” PM Modi posted on X.<\/p>\n Japan\u2019s Expanding Footprint in India<\/b> Today, Japan sees India not only as a strategic partner but also as an emerging global manufacturing hub. India\u2019s vast consumer market, skilled workforce, and infrastructure development have made it an attractive destination for Japanese investment. The signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2011 further accelerated trade and investment flows between the two countries, laying the groundwork for increased economic cooperation.<\/p>\n During Japanese Prime Minister Fumio Kishida\u2019s visit to India in March 2022, both nations set an ambitious goal of mobilizing JPY 5 trillion (approximately USD 38 billion) in public and private investment over five years. This commitment is now translating into actionable projects that will drive industrial growth, strengthen trade partnerships, and enhance job creation in India.<\/p>\n Mutual Growth with Bilateral Trade<\/b> Despite these figures, there remains significant untapped potential. India currently ranks 18th in Japan\u2019s total trade, contributing just 1.4%, while Japan ranks 17th in India\u2019s trade with a 2.1% share. These numbers reflect an enormous opportunity for deeper economic engagement, particularly in high-value manufacturing, infrastructure development, digital technology, and renewable energy.<\/p>\n Both nations recognize the need to strengthen their trade corridors, enhance cross-border investments, and facilitate ease of doing business to unlock the full potential of their economic partnership.<\/p>\n Japan-India Business Cooperation: A Multi-Sectoral Push<\/b> Key discussion points included: The delegation also briefed PM Modi about the upcoming 48th Joint Meeting of the Japan-India Business Cooperation Committee, scheduled for March 6, 2025, in New Delhi, which aims to deepen business ties and explore new avenues for investment.<\/p>\n PM Modi welcomed Japan\u2019s expanding role in India\u2019s economic growth, reiterating the Indian government\u2019s commitment to creating a business-friendly environment. He emphasized the importance of skill development as a key pillar of the Indo-Japanese partnership, ensuring that India\u2019s workforce remains equipped to meet the demands of a rapidly evolving global economy.<\/p>\n Collaborative Economic Expansion<\/b> Key focus areas for future collaboration include: With increasing cooperation between governments and business communities, India and Japan are poised to enter a new era of economic collaboration. The message is clear: India and Japan are not just economic allies but strategic partners shaping the future of global trade and industry.<\/p>\n <\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Prime Minister Narendra Modi with a Japanese business delegation in New Delhi on March 5, 2025. Prime Minister Narendra Modi has reaffirmed India\u2019s deep economic ties with Japan, praising the country\u2019s steadfast commitment to the \u2018Make in India, Make for the World\u2019 initiative. 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The Indo-Japanese economic partnership is built on a foundation of trust, innovation, and mutual respect. Japan\u2019s commercial presence in India dates back to 1972, when Panasonic set up its first manufacturing unit. The 1980s saw further momentum with Suzuki and Denso entering the Indian market, marking the beginning of a robust industrial collaboration that has only strengthened over the years.<\/p>\n
Japan remains one of India\u2019s most important economic partners, with bilateral trade reaching an impressive USD 22.85 billion in FY 2023-24. Japanese exports to India stood at USD 17.69 billion, while Indian exports to Japan were valued at USD 5.15 billion.<\/p>\n
Adding further momentum to this collaboration, PM Modi also met with a 17-member delegation from the Japan-India Business Cooperation Committee (JIBCC), led by Chairman Tatsuo Yasunaga. The delegation comprised senior executives from top Japanese corporations spanning key industries, including manufacturing, banking, aviation, pharmaceuticals, engineering, and logistics.<\/p>\n
High-quality, cost-effective manufacturing in India to cater to domestic and global markets.
Strengthening trade networks, with a special focus on Africa as an emerging economic frontier.
Enhancing human resource development through skill-building initiatives.
Technology transfer and innovation partnerships to boost India\u2019s industrial landscape.<\/p>\n
As India continues its trajectory towards becoming a global manufacturing powerhouse, Japan\u2019s investment, expertise, and technology will play a crucial role in shaping this transformation.<\/p>\n
Automobile and EV industry: Strengthening India\u2019s electric mobility sector with Japanese technology.
Smart infrastructure and urban planning: Developing world-class urban infrastructure powered by cutting-edge technology.
Renewable energy and sustainability: Expanding cooperation in green energy solutions to meet global climate goals.
Digital innovation and AI: Leveraging Japan\u2019s advancements in artificial intelligence and automation to boost India\u2019s tech sector.<\/p>\n