Tokyo/New Delhi, May 23 (UNI) Prime Minister Narendra Modi chaired a round-table with Japanese business leaders and invited their greater participation in India.
Top executives and CEOs of 34 Japanese companies from diverse sectors, including automobiles, electronics, semi-conductors, steel, technology, trading and banking and finance, participated in the event. Majority of these companies have investments and operations in India, the PMO informed.
The Prime Minister proposed celebrating Japan's contribution to India's development journey in the form of a 'Japan Week'.
Key business bodies and organizations from India and Japan such as Keidanren, Japan External Trade Organisation (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Japan-India Business Consultative Committee (JIBCC) and Invest India also participated in the event, said the PMO.
Stressing that India and Japan are natural partners, Prime Minister lauded the business community as brand ambassadors of the immense potential of India-Japan ties.
He said during the visit of Prime Minister Kishida to India in March 2022, both countries had set an ambitious target of investment of Japanese Yen 5 trillion over the next five years.
The Prime Minister highlighted recent developments in economic ties, such as India-Japan Industrial Competitiveness Partnership (IJICP) and Clean Energy Partnership, among others.
He talked about initiatives such as National Infrastructure Pipeline (NIP), Production Linked Incentive (PLI) scheme and semi-conductor policy, and highlighted the robust start-up ecosystem of India, it added.
Modi noted that despite the slowdown in global FDI, India has attracted record FDI of 84 billion dollars in the previous financial year. He termed this as a vote of confidence of India’s economic potential.
Earlier, the PM held meetings with top Japanese business leaders including Nobuhiro Endo, Chairman, NEC Corporation; Tadashi Yanai, Chairman/President and CEO, UNIQLO; Osamu Suzuki, Adviser, Suzuki Motor Corporation and Masayoshi Son, Board Director at Softbank Group Corp.
The PM discussed ways to enhance cooperation and opportunities for investment in India.
Penning an op-ed for Japanese media outlet Yomiuri Online, Modi said that India and Japan have long term relations but the best time is yet to come, as the two countries are looking to rebuild their economies in the post Covid-19 period.
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