Tokyo: Prime Minister Narendra Modi met former Japanese Prime Ministers Yoshihide Suga and Fumio Kishida during his Tokyo visit on Friday. Yoshihide Suga was the Prime Minister of Japan from 2020 to 2021, while Fumio Kishida’s tenure was from 2021 to 2024. Both leaders are from Japan’s ruling Liberal-Democratic Party.
Let us tell you that Prime Minister Modi reached Tokyo on Friday morning on a two-day official visit, where he will also attend the 15th India-Japan Annual Summit. Earlier, PM Modi addressed the India-Japan Economic Forum, where he emphasized on the increasing investment of foreign companies in the Indian market and said that capital does not only increase in India, but increases manifold.
’75 percent companies are making profits’
Prime Minister Modi said, “Japan External Trade Organization (JETRO) says that 80 percent companies want to expand in India. 75 percent companies are making profits. Capital in India not only grows, but also multiplies.”
The Prime Minister said that India’s approach of reform, perform and transform is behind this development. Not only this, he also highlighted major schemes like GST and reforms for ease of doing business.
Single-window approval system
Prime Minister Modi said, “Our reform, perform and transform approach is behind this change. In 2017, we started ‘One Nation, One Tax’. Now we are bringing new reforms in it. We have given importance to ease of doing business. We have made a system of single-window approval for businesses.”
PM Modi emphasised that Japan’s technology and India’s talent together can lead the technological revolution of this century. PM Modi said, “Japan is a technology superpower and India is a talent superpower. India has taken bold and ambitious initiatives in artificial intelligence, semiconductors, quantum computing, biotech and space sectors.”
Agreement on Joint Credit Mechanism
He said that India-Japan have signed an agreement on Joint Credit Mechanism for cooperation on clean fuel and green future. PM Modi is also scheduled to hold a meeting with Japanese Prime Minister Shigeru Ishiba today, during which the two leaders are expected to discuss important topics to strengthen the relationship between the two countries.
The Japanese PM said in a post on X, “I warmly welcome Prime Minister Modi’s visit to Japan. I look forward to discussing with the Prime Minister on strengthening Japan-India relations in various fields.” After the Japan visit, PM Modi will travel to China to attend the Shanghai Cooperation Organisation (SCO) summit in Tianjin from August 31 to September 1.
