Tokyo: Prime Minister Narendra Modi stated on Friday in Tokyo, the Japanese capital, that India is a talent powerhouse and urged Indians to use their abilities to make the country stronger. Business executives should invest in India and manufacture for the world.
The Prime Minister opened his speech to the India-Japan Economic Forum in Tokyo with Namaskar and Konnichiwa, noting India's fast development and change, as well as its India's pitch to be an investment hub is based on political and economic stability, long-term policy vision, and predictability.
According to Prime Minister Modi, India is currently the world's fastest-growing economy, with plans to become the world's third-largest.
He noted that the two countries' collaboration in every sector, from metro to industry, from semiconductors to entrepreneurs, has grown into a symbol of mutual confidence.
The Prime Minister promoted collaboration with Japan in the areas of manufacturing, technology, innovation, green energy, and skill development.
As the Prime Minister (Shigeru Ishiba) has previously stated, our collaboration in the production and automotive industries has been quite effective. We can do the same magic together in industries like as battery production, robotics, semiconductor shipbuilding, and nuclear energy, Prime Minister Modi told his audience.
India and Japan have a strategic and sensible connection. Driven by economic reasoning, we have turned common interests into shared prosperity. India serves as the launching pad for Japanese company expansion into the Global South. Together, we will create Asia's century of peace, development, and prosperity, according to the Prime Minister.
India and Japan may work together to benefit the Global South, particularly in the 'vikas' of Africa, he said.
Hailing the India-Japan relationship, Prime Minister Narendra Modi stated that Japanese firms have invested $13 billion in India in the previous two years alone.
He said that the paper on the India-Japan business forum, which has just been released, identifies India as the most potential destination and highlights The specifics of business transactions between firms.
...80% of firms want to grow in India. Seventy-five percent of firms are profitable. In India, funds do not simply increase; they multiply. Prime Minister Modi stated.
He claims that India's skilled workforce would meet global demand.
India's trained young workforce has the ability to satisfy global demand, and Japan may profit from this. To develop a Japan-ready workforce, you should teach Indian expertise in the Japanese language and other specialist fields. This competent workforce will satisfy worldwide demands.
According to the Prime Minister, a shared labor force will result in shared wealth.
Prime Minister Modi stated that the two nations may work together for green energy transition in order to meet the goal of 500 GW of renewable energy by 2030.
India is fast approaching its goal of 500 GW of renewable energy by 2030. We have also set a target of 100 GW of nuclear power by 2047. There are tremendous collaboration prospects between India and Japan in renewable energy technologies such as solar cells and green hydrogen. PM Modi stated that by utilizing the joint credit mechanism, we may work together to create a clean and green future.
Furthermore, the Prime Minister stated that India has made remarkable advances in next-generation mobility and logistics infrastructure over the last decade.
Our port capacity has increased twofold... With Japan's support, the Mumbai-Ahmedabad high-speed rail project is ongoing. However, Japan's skill and India's size can form an ideal combination, according to Prime Minister Modi.
In his final remarks, PM Modi stated that India and Japan would work together to build Asia Century for peace, development, and prosperity.
Prime Minister Modi and his Japanese counterpart also conducted summit meetings with Shigeru Ishiba, Japan's counterpart.
PM Modi last visited Japan for the annual summit in 2018.
