Japan Sets 10 Trillion Yen Investment Target in India for Decade

Prime Minister Narendra Modi and his Japanese counterpart Shigeru Ishiba finalized a 10-year roadmap to deepen economic cooperation in critical areas such as technology, digitalization, and rare earths, aiming to secure 10 trillion yen ($68 billion) in private investments in India. The two leaders launched the Economic Security Initiative to ensure supply chain resilience in strategic sectors and signed a Joint Declaration on Security Cooperation to respond to contemporary defense challenges. The summit marked a significant milestone in the bilateral special strategic and global partnership, which was established in 2014, with a focus on investment, innovation, economic security, environment, technology, health, mobility, people-to-people exchanges, and state-prefecture partnership.

Key Takeaways:

• Japan has set a target of 10 trillion yen ($68 billion) in private investments in India over a decade, building on the success of the earlier 5 trillion yen ($34 billion) target achieved two years ahead of schedule.
• The Economic Security Initiative will promote investments and innovation to ensure supply chain resilience in strategic sectors such as semiconductors, telecom, pharmaceuticals, and emerging technologies.
• The Indian Space Research Organisation (ISRO) and the Japan Aerospace Exploration Agency (JAXA) have finalized an agreement to cooperate for the Chandrayaan-5 mission, marking a significant step in space cooperation.
• The two PMs emphasized the importance of mutual trust and strengthened the international order, with Ishiba requesting the Indian side to continue regulatory and other reforms to allow Japanese companies to deepen their supply chains in India.
• Modi invited more Japanese businesses to invest in India, citing Japanese technology and Indian talent as a winning combination.
• The joint statement noted that the Indian side appreciated Japan's offer to introduce the E10 Shinkansen, which runs on the Japanese signalling system, in India in the early 2030s.
• Defense and security cooperation figured prominently in the discussions, with a focus on upholding a free, open, peaceful, prosperous, and rules-based Indo-Pacific.

Statistics:

• 10 trillion yen ($68 billion) - Japan's target for private investments in India over a decade
• 5 trillion yen ($34 billion) - Japan's earlier investment target in India, achieved two years ahead of schedule
• 500,000 - The number of people from both sides that will be exchanged in various fields over five years under the human resource action plan
• 50,000 - The number of skilled Indians who will actively contribute to Japan's economy
• $68 billion - The estimated value of Japan's investments in India (10 trillion yen)

Sources:

• "Hindustan Times" (no date specified in the original text)