‘India and Japan are natural partners’: PM Modi chairs business roundtable in Tokyo

New Delhi, May 23 (SocialNews.XYZ) Prime Minister Narendra Modi on Monday chaired a roundtable in Tokyo with Japanese business leaders, including senior executives and CEOs of 34 companies that have investments and operations in India.

The companies represented various sectors, including automotive, electronics, semiconductors, steel, technology, trade, banking and finance.

Emphasizing that India and Japan are natural partners, he hailed the business community as ambassadors of the immense potential of the bilateral relationship.

Modi noted that during his Japanese counterpart Fumio Kishida’s visit to India in March this year, the two countries set an ambitious investment target of 5 trillion Japanese yen over the next five years.

Highlighting recent developments in economic ties, such as India-Japan Industrial Competitiveness Partnership (IJICP) and Clean Energy Partnership, among others, the Prime Minister also spoke about initiatives such as the National Infrastructure (NIP), the Production Linked Incentive Program (PLI), and Semiconductor Policy and highlighted India’s strong start-up ecosystem.

During the meeting, he also said that despite the slowdown in global FDI, India had attracted record FDI of $84 billion in the previous financial year, which he described as “a vote of confidence in India’s economic potential”.

Calling for greater participation of Japanese companies in India, he proposed celebrating Japan’s contribution to India’s development journey in the form of a “Japan Week”.

After the business meeting, the Prime Minister, in a tweet, said: “I met with leading business leaders in Tokyo. Our conversations covered various topics ranging from innovation to investments, from technology to textiles, reforms to startups. There is great enthusiasm for India and there is great appreciation for the entrepreneurial skills of Indian youth.”

Nissan Motor Corporation, Toyota Motor Corporation, Yamaha Motor Corporation, Suzuki Motor Corporation, Mizuho Bank Ltd. MUFG Bank Ltd. and JIBCC and the Japan-India Business Cooperation Committee were among the 34 companies that participated in the business roundtable.

India and Japan key trade bodies and organizations such as Keidanren, Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), the Japan-India Business Advisory Committee (JIBCC) and Invest India also participated in the event.

Source: IANS

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