As Japanese Prime Minister Sanae Takaichi embarks on her three-day visit to India, Japanese companies are gearing up to announce investments totaling nearly $12.5 billion (about 2 trillion yen) in the country. More than 150 Japanese companies are actively participating in the Japan-India Economic Forum being held alongside the summit. This investment commitment is part of a broader initiative announced last year to facilitate 10 trillion yen in private Japanese investments in India over the next decade.
Japan’s Deputy Chief Cabinet Secretary Masanao Ozaki, who is accompanying PM Takaichi on her visit to New Delhi, shared in a post that over 150 companies will be part of the Japan-India Economic Forum. He referenced a report by Japanese newspaper The Yomiuri Shimbun, highlighting that these initiatives, valued at around 2 trillion yen from the Japanese side, are aimed at expanding their presence in India. India and Japan are expected to collaborate on joint stockpiling initiatives to enhance energy security, with a significant boost anticipated in defense cooperation.
In a significant move supporting the ‘Make in India’ initiative, Prime Minister Narendra Modi and Takaichi are scheduled to jointly inaugurate Maruti Suzuki India’s new manufacturing plant in Kharkhoda, Haryana. This plant marks the fourth Maruti facility in India, with the total cost of all plants estimated at approximately Rs 35,000 crore. Earlier in the day, PM Modi and PM Takaichi met at the Hyderabad House in New Delhi, exchanging warm greetings before their discussions. Takaichi’s visit to New Delhi, starting on Wednesday evening, marks the beginning of her three-day official visit, during which she emphasized the importance of Japan’s collaboration with India in the current global scenario.
Takaichi expressed her hopes to enhance concrete cooperation with Prime Minister Modi in three key areas: strengthening the Japan-India strategic partnership given the prevailing international situation, fostering economic security cooperation, and bolstering collaboration between businesses from both nations in terms of investment and innovation.
