PM Modi holds meeting with top business leaders in Tokyo; discussion focussed on innovation to investments, tech to textiles, reforms to StartUps
Prime Minister Narendra Modi, who arrived on a two-day visit to Tokyo for the third Quad Summit, held an in-person meeting with top Japanese business leaders with-a goal of strengthening economic linkages between the two countries.
Highlighting India’s reform trajectory, PM Modi discussed investment avenues India offers with the top Japanese business leaders in areas ranging from the textiles industry, the automotive industry, energy, among others.
Speaking of his meeting, PM Modi said, “Met top business leaders in Tokyo. Our conversations focused on diverse topics ranging from innovation to investments, tech to textiles, reforms to StartUps. There is great enthusiasm towards India and there is great appreciation for the entrepreneurial skills of India’s youth.”
The high level meeting between PM Modi and top Japanese business leaders is expected to give big boost to economic engagement between India and Japan in coming days.
PM Modi meets Chairman of NEC Corporation Nobuhiro Endo
PM Narendra Modi on Monday held a meeting with Chairman of NEC Corporation Nobuhiro Endo in Tokyo. During the high level meeting, PM Modi highlighted the growing opportunities for NEC in India in areas such as digital learning, FinTech, infra and logistics networks.
PM Modi also appreciated NEC’s role in India’s telecommunication sector, especially in undertaking Chennai-Andaman & Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects.
According to the release by the Prime Minister’s Office, the two sides talked of initiatives being undertaken in India to enable ease of doing business in India, including in industrial development, taxation and labour. They also discussed opportunities in India for new and emerging technologies.
During his meeting with the PM, the Chairman of NEC Corporation spoke about opportunities in India in areas such as smart cities, emerging technologies and an innovative effort to encourage learning of Japanese in India. “PM Narendra Modi has a strong intention to build and enhance capabilities. We also discussed ways to contribute to Smart Cities in India,” Endo added.
PM Modi meets Tadashi Yanai, Chairman, President & CEO, Fast Retailing Co. LtdDuring his meeting with Tadashi Yanai, President & CEO, Fast Retailing Co. Ltd., PM Modi discussed the rapidly growing textile and apparel market of India and further extended an invitation to Uniqlo to participate in the PM-Mitra Scheme aimed at strengthening the textiles sector.According to the Ministry of External Affairs, the two sides also deliberated on reforms being undertaken to make India a preferred country for foreign investments, including in the areas of industrial development, infrastructure, taxation and labour, due to its liberal policies.During his meeting with PM Modi, Yanai too appreciated the entrepreneurial zeal of the people of India. “We would like to bring various kinds of speciality experts into various fields in India and accelerate growth,” Yanai said.
PM Modi meets Suzuki Motor Corp Advisor Osamu Suzuki
In a meeting with Osamu Suzuki, Senior Advisor, Suzuki Motor Corporation, PM Modi appreciated Suzuki’s transformational role in India’s automotive industry. The two sides also discussed growing opportunities for investment, innovation, manufacturing EVs, and recycling centres in India.
According to the Ministry of External Affairs, “they discussed further investment opportunities in India including setting up of production facilities for electric vehicles and batteries as well recycling centres, to realize the goal of sustainable growth. They also discussed strategies for building the local innovation system in India, including skill development through Japan-India Institutes of Manufacturing (JIM) and Japanese Endowed Courses (JEC).”
Earlier, the company, in a statement, Suzuki Motor Corporation (SMC) announced investing approximately 150 billion yen (approximately 104.4 billion rupees) for local manufacturing of electric vehicles (BEV) and BEV batteries in India.
PM Modi interacts with Founder of Soft Bank Group
In Tokyo, PM Narendra Modi also interacted with Founder of Soft Bank Group, Masayoshi Son. According to the Prime Minister’s Office, the subjects discussed in the meeting include India’s strides in the world of StartUps, opportunities in research, technology and ways to boost investment linkages.
Following his meeting with PM Modi, Son said, “India Is Growing Very Quickly, new #Startups are coming everyday and Unicorns coming very quickly. India’s future is bright, PM Narendra Modi is committed to the success of India, supporting start-ups.”
PM Modi to hold bilateral meeting with Japanese PM Fumio Kishida
On the sidelines of the third Quad Summit, PM Modi will also hold a bilateral meeting with his Japanese counterpart Fumio Kishida. Both leaders will share their views on further deepening of India-Japan bilateral economic cooperation including in trade and investment, clean energy, cooperation in the north-east, people to people ties and digital partnership.
Matters pertaining to regional and global levels will be tabled for discussion during the high-level meeting between the two leaders.
Ahead of his visit to Tokyo, speaking of India-Japan ties, PM Modi said, “Economic cooperation between India and Japan is an important aspect of our Special Strategic and Global Partnership. During the March Summit, PM Kishida and I announced our intention to realize JPY 5 trillion in public and private investment and financing over the next five years.”
