Prime Minister Shigeru Ishiba (left) and Prime Minister Narendra Modi. (©Sankei)
このページを 日本語 で読む
The Japanese government is discussing setting a target of ¥10 trillion JPY (about $68 billion USD) in private investment in India over the next decade. This move coincides with Indian Prime Minister Narendra Modi's visit to Japan.
Prime Minister Shigeru Ishiba is expected to confirm the plan during his summit with Modi, scheduled for August 29–30. The new target could be included in the summit's outcome document, a Japanese government official revealed on August 21.
The two leaders are scheduled to hold a meeting and dine together on the 29th, followed by a visit to Miyagi Prefecture the next day. There, they will tour a Japanese company that produces Shinkansen test vehicles and semiconductor equipment. This will be Modi's first visit to Japan since his invitation to the G7 Hiroshima Summit in May 2023.
Regarding investment in India, former Prime Minister Fumio Kishida, who visited the country in March 2022, set a five-year investment target of ¥5 trillion (about $34 billion). Tokyo now aims to encourage further private-sector investment in India by revising this target.
The Japanese and Indian governments are collaborating to establish a new cooperation framework, known as the "Economic Security Initiative," aimed at ensuring a stable supply of essential materials.
Key focus areas include semiconductors, rare earth minerals, communications, clean energy, artificial intelligence (AI), and pharmaceuticals, as part of plans to advance collaboration in economic security.
In addition, they are coordinating the launch of a separate framework, the "AI Cooperation Initiative," to strengthen partnership in AI and support for startups and emerging companies.
RELATED:
- A Japan-India Model to Unlock the Indo-Pacific's Potential
- Japan, India Security Cooperation Rises Across the Board
Author: The Sankei Shimbun
このページを 日本語 で読む
