Japan's technology & India's talent can together lead tech revolution of this century: PM Modi

Prime Minister Narendra Modi, in his address at the India-Japan Joint Economic Forum, highlighted shared workforce between India and Japan to build projects across India like the Mumbai-Ahmedabad high-speed rail.

"With Japan's cooperation, work is ongoing on the Mumbai and Ahmedabad high-speed rail. But our journey does not stop here. Japan’s excellence and India’s scale can create a perfect partnership," PM Modi said.

The technology of Japan and the talent of India can together lead the tech revolution of this century...India and Japan will together shape Asian Century for stability, growth and prosperity, he said.


He termed the partnership between the two countries as 'strategic and smart'. Modi highlighted India's bold and ambitious initiatives in AI, semiconductor, quantum computing, biotech, and space.

"India and Japan’s partnership is strategic and smart. Powered by economic logic, we have turned shared interests into shared prosperity," he said in his address.

PM Modi highlighted the successful India-Japan partnership in the automobile sector, and urged companies to replicate the model for other modern industries.

"Our participation in the auto sector has been extremely successful. Together, we can replicate the same magic in batteries, robotics, semiconductors, ship-building, and nuclear energy as well," he said.

"In India's development journey, Japan has always been an important partner. From etro to manufacturing, from semiconductors to start-ups, our partnership in every sector has become a symbol of mutual trust," he added.

He shared his belief that the partnership of the two countries can make a significant contribution to the development of the Global South.

"Together, we can make a significant contribution to the development of the Global South, especially Africa. I urge all of you - Come, Make in India, Make for the world," he said, reiterating his call for 'Make in India'.

Adding on India-Japan cooperation, Modi said that the countries have signed an agreement on Joint Credit Mechanism for cooperation on clean fuel and green future. India has set a target of achieving 100 GW of nuclear power by 2047.

Emphasising the growing investment of foreign companies in the Indian market, he said that capital just does not grow in India, but it multiplies.

"JETRO (Japan External Trade Organisation) says that 80% of companies want to expand in India. 75% of companies are making profits. In India, capital does not just grow, it multiplies." PM Modi said.

"You are all aware of India's transformation over the last 11 years. Today, India has political and economic stability. There is transparency and predictability in policy. India is the fastest-growing major economy and will soon become the world's third-largest economy. India has a strong banking sector, low inflation and low interest rates. Around USD 700 billion of forex reserves are in India." PM Modi said.