Japan committed to invest over $60 billion (₹5.98 trillion and ¥10 trillion) in India over the next decade after talks between Prime Minister Narendra Modi and his Japanese counterpart Shigeru Ishiba on Friday, 29 August.
PM Modi earlier in the day urged Japanese business leaders to invest in India and taste success the way automakers Daikin and Suzuki did by manufacturing in the country.
Boost to Trade, Technology, and Space Cooperation
The meeting produced promises of collaboration in areas spanning trade, economic security, space exploration, environmental protection, and advancing technologies such as artificial intelligence (AI).
This is PM Modi’s first visit to Japan in seven years and his first meeting with Ishiba since the latter took office in October 2024.
The Prime Minister declared that the meeting marked a ‘new and golden chapter’ in bilateral ties.
Japan and India launched a joint AI initiative to advance large language models (LLM) and AI training for businesses and startups.
Both sides also agreed to strengthen supply chain resilience in key sectors, including semiconductors, clean energy, telecom, pharmaceuticals, critical minerals, and emerging technologies.
Strengthening Defence and Strategic Ties
Both leaders acknowledged the ongoing partnership in the Chandrayaan-5/LUPEX mission, where the Indian Space Research Organisation (ISRO) and the Japanese space agency (JAXA) are working together.
The two countries also decided to deepen cooperation in the defence industry and innovation.
India and Japan remain strong members of the Quad, along with the United States and Australia, working to ensure a stable and prosperous Indo-Pacific.
PM Modi will next travel to China to attend the Shanghai Cooperation Organisation (SCO) summit from 31 August to 1 September. He is expected to meet Chinese President Xi Jinping on the sidelines of the summit.
Also Read: PM Modi Says India And Japan Will Remain Force For Peace And Stability
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