India and Japan Sign Landmark Agreements
India and Japan have signed a series of agreements covering economic security, artificial intelligence (AI), defence, and health sectors, Prime Minister Narendra Modi announced on Thursday. Speaking at the India-Japan Joint Economic Forum in New Delhi, PM Modi described the partnership as “futuristic and limitless.”
The agreements aim to deepen bilateral ties, with a focus on creating resilient supply chains and fostering innovation in cutting-edge technologies. PM Modi emphasized the “strategic synergy, confidence, and clarity” between New Delhi and Tokyo, urging collaboration where Japan’s technology meets India’s market potential.
Investment Target of 10 Trillion Yen
As part of the enhanced economic engagement, Japan has committed to investing 10 trillion yen (approximately $66 billion) in India over the next decade. PM Modi called on Japanese companies to double their presence in India within the same period. “Together, all of you have to ensure that in the next decade, Japan’s investment in India crosses 10 trillion yen and the number of Japanese companies in India doubles in 10 years,” he said.
The investment will focus on sectors such as semiconductors, pharmaceuticals, and critical minerals, aiming to build a resilient supply chain that benefits both nations and the global economy.
Focus on AI, Quantum Tech, and Biotechnology
PM Modi outlined a vision for India-Japan collaboration in shaping next-generation innovations. “I see a world where Japan’s technology and India’s market potential together give a resilient supply chain in semiconductors, pharma, and critical minerals to the world. India and Japan are shaping the next generation of innovation in artificial intelligence, quantum technologies, and biotechnology,” he stated.
The leaders also discussed unprecedented collaboration in aerospace and advanced technologies to strengthen global security. PM Modi reaffirmed the commitment to upholding a “free, open, and rules-based global order.”
Japanese PM Takaichi’s Visit
The agreements were signed during Japanese Prime Minister Takaichi’s official visit to India from July 1 to 3, at the invitation of PM Modi. Earlier in the day, the two leaders held bilateral and delegation-level talks. The Indian delegation included External Affairs Minister S Jaishankar, National Security Adviser Ajit Doval, and Foreign Secretary Vikram Misri.
Takaichi received a ceremonial welcome at the forecourt of Rashtrapati Bhavan. The visit underscores the growing strategic partnership between the two nations.
Announcement of Japan Business Week
At the Economic Forum, PM Modi also announced a Japan Business Week, to be organized by the Prime Minister’s Office, aimed at enhancing ease of doing business in India for Japanese firms. This initiative is expected to further boost bilateral trade and investment flows.
The agreements signed cover economic security, AI, defence, and health, reflecting the comprehensive nature of the partnership. Both sides expressed confidence in achieving the ambitious targets set for the next decade.
