Over the next five years, the two countries have set an ambitious target of investment of Japanese Yen 5 trillion. This was announced earlier this year when the Japanese PM Kishida had visited the country.
Ahead of the QUAD Leaders Summit, Prime Minister Narendra Modi on Monday chaired a roundtable with top CEOs and executives of Japanese companies in Tokyo. Most of these companies, according to an official statement issued by the Ministry of External Affairs (MEA), already have running operations in India and have invested here too.
Who was present at the roundtable?
Diverse sectors including semiconductors, steel, technology, banking & finance, trading, automobiles, and electronics.
Important organizations and business bodies from both countries including — Japan-India Business Consultative Committee (JIBCC) and Invest India, Keidanren, Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), were all present at the meeting with PM Modi.
Ahead of the roundtable, he also had a meeting with the CEOs of some major Japanese companies including NEC Corporation chairperson Dr Nobuhiro Endo, Uniqlo CEO Tadashi Yanai, Suzuki Motor Corporation Osamu Suzuki. These companies have a global presence and recognition.
Roundtable
Over the next five years, the two countries have set an ambitious target of investment of Japanese Yen 5 trillion. This was announced earlier this year when the Japanese PM Kishida had visited the country.
Lauding the business community as brand ambassadors, PM Modi highlighted recent developments in economic ties of India and Japan. He talked about India-Japan Industrial Competitiveness Partnership (IJICP) and Clean Energy Partnership, and more.
He also talked about the robust startup ecosystem in India and other initiatives including semiconductor policy, Infrastructure Pipeline (NIP), and Production Linked Incentive (PLI) scheme.
Inviting greater participation by Japanese countries in India, he proposed “Japan Week’’ which will showcase their contribution in India. Despite the slowdown in global FDI, India managed to attract almost USD 84 billion in the previous financial year.
Japanese companies in the Business Forum
Honda Motor Co., Ltd.; Nissan Motor Corporation; Toyota Motor Corporation; Yamaha Motor Corporation; Suzuki Motor Corporation; Mizuho Bank Ltd.; MUFG Bank Ltd. and JIBCC; Sumitomo Mitsui Banking Corporation; Nomura Securities Co., Ltd.;Japan-India Business Co-operation Committee; KEIDANREN; Dream Incubator Inc.; Sumitomo Chemical Co. Ltd.; IHI Corporation; Kawasaki Heavy Industries, Ltd.;Hotel Management International Co. Ltd.; Brooks & Co. Ltd.; Fujitsu Ltd.; NEC Corporation; JETRO; JICA; JBIC; Mitsui O.S.K. Lines; Hitachi Ltd.; Daikin Industries Ltd.; JFE Steel Corporation; Nippon Steel Corporation; Toray Industries, Inc.; Mitsui & Co. Ltd.; Sojitz Corporation; Sumitomo Corporation; Toyota Tsusho Corporation; Marubeni Corporation; and Mitsubishi Corporation.
https://www.financialexpress.com/defence/pm-modi-urges-japanese-companies-to-make-in-india-for-the-world/2534988/
