PM Modi Showcases India’s Growth at Japan Economic Forum

Prime Minister Narendra Modi showcased India’s political and economic stability as a magnet for investment during a high-profile address at the India-Japan Economic Forum in Tokyo on Friday. Arriving for a two-day visit amid tensions with the US over a 50% tariff hike on Indian goods, Modi emphasized India’s rapid growth and transparent policies, positioning it as a prime destination for collaboration in green energy, manufacturing, and technology.

“India is the fastest-growing major economy, soon to be the world’s third-largest,” Modi declared, highlighting the nation’s contribution to 18% of global growth, robust capital markets, a strong banking sector, low inflation, and foreign exchange reserves nearing USD 700 billion. He noted Japan’s significant investment in India, with over USD 40 billion committed, including USD 13 billion in the last two years, underscoring the transformative changes in India over the past decade.

Modi described Japan as a “tech powerhouse” and India as a “talent powerhouse,” envisioning a partnership to lead the global technology revolution in AI, semiconductors, quantum computing, biotech, and space. He highlighted Japan’s role in India’s growth, from metro networks to the Mumbai-Ahmedabad high-speed rail project, and called for deeper ties in next-generation infrastructure, where India has doubled port capacity and built 1,000 km of metro lines.

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In clean energy, Modi outlined India’s ambitious targets of 500 GW of renewable energy by 2030 and 100 GW of nuclear power by 2047, inviting Japanese collaboration in solar cells and green hydrogen. A joint credit mechanism agreement between the two nations was cited as a tool to foster a sustainable future.

On skill development, Modi proposed training Indian workers in Japanese language and soft skills to create a “Japan-ready” workforce, fostering shared prosperity. He also detailed India’s reform agenda, including the “One Nation–One Tax” GST system, a simplified Income Tax code, and eased business compliances through a single digital window and deregulation efforts. Sensitive sectors like defense, space, and nuclear energy have been opened to private players, signaling India’s bold economic vision.

Modi’s address came against the backdrop of US tariffs threatening Indian exports, yet he exuded confidence, stating, “Japan’s excellence and India’s scale can create a perfect partnership to shape an Asian century of stability, growth, and prosperity.” His visit underscores India’s strategic pivot to strengthen ties with Japan as a counterbalance to global trade challenges.

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