Vijay Singh
New Delhi [India], August 29: In Tokyo, PM Modi shared the stage with his Japanese counterpart, Shigeru Ishiba, at the India-Japan Economic Forum, jointly hosted by CII and Japan’s Keidanren. The room was packed with CEOs, including members of the India-Japan Business Leaders’ Forum. The agenda was simple: take an already strong partnership and crank it up.
PM Modi’s Sales Pitch: India as the Growth Engine
PM Modi opened with a blunt claim: India contributes 18% to global growth and is “on course to become the world’s third-largest economy.” Not a modest statement, but numbers back him up. India has foreign reserves hovering around $700 billion, inflation in check, and S&P just upgraded our credit rating for the first time in two decades.
His message to Japanese companies was clear: “Come, Make in India, Make for the World.”
The Five-Point Menu for Japan
The Prime Minister outlined five sectors where Tokyo and New Delhi can do serious business:
- Manufacturing, Beyond cars, think batteries, robotics, semiconductors, ship-building, and even nuclear energy.
- Technology & Innovation, India as “talent powerhouse,” Japan as “tech powerhouse.” Joint bets on AI, quantum computing, biotech, and space.
- Green Energy, A push towards 500 GW of renewables by 2030 and 100 GW of nuclear by 2047. The two countries have signed a Joint Credit Mechanism to back clean energy projects.
- Next-Gen Infrastructure, From 1,000 km of metro lines to the Mumbai-Ahmedabad bullet train, Japan’s engineering and India’s scale can go big together.
- Skills & People Ties, Training Indian youth in Japanese language and culture to create a “Japan-ready” workforce.
Ishiba’s Priorities
Prime Minister Ishiba responded with his own list: resilient supply chains, tech fusion, and green initiatives. He also stressed semiconductors, the hottest contested commodity in global geopolitics right now.
Deals Already on the Table
The 12th India-Japan Business Leaders’ Forum report was tabled during the event. Japanese industry body JETRO’s chief, Norihiko Ishiguro, announced fresh B2B MoUs across steel, AI, space, education, skills, and clean energy. These aren’t just talking points; contracts are moving.
Context: Not Just Global, But Indian Too
Japan isn’t new to this dance. Its firms have invested over $40 billion in India, with $13 billion pouring in just in the last two years. According to JETRO, 80% of Japanese companies already in India plan to expand. Three-fourths are already profitable.
For India, this isn’t just about foreign capital. It’s about pushing Make in India from slogan to scale. Think of Suzuki’s Maruti success, Daikin’s air-conditioners, or the metros that now snake through Indian cities. PM Modi’s message was basically: “You’ve done it before, do it bigger.”
What India-Japan Economic Forum Means for Bharat
The political spin is obvious: stability, reforms, predictability, the government’s favourite trio of talking points. But beyond rhetoric, Japanese partnerships matter. From bullet trains to nuclear energy, from semiconductors to green hydrogen, India needs both capital and know-how. Japan brings both.
If this momentum holds, India could become Japan’s launchpad not just into Indian markets but into the Global South, especially Africa, an angle PM Modi didn’t miss.
India is the springboard for Japanese businesses to the Global South. Together, we will shape the Asian Century for stability, growth, and prosperity. – PM Modi
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Japanese money in India isn’t charity; it’s hard-nosed business. Tokyo knows it needs reliable partners in a shaky global economy, and Delhi offers scale, talent, and political stability. If Japan’s chequebook and India’s workforce really sync up, this could be one of the few global partnerships that actually moves the needle, not just for boardrooms, but for ordinary Indians who want jobs, skills, and growth.
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