**Executive Summary**
Prime Minister Narendra Modi addressed the India-Japan Joint Economic Forum on July 2, 2026, to strengthen bilateral economic ties and outline a vision for future industrial cooperation. The address highlights India's 7.7% GDP growth and calls for Japanese investment to surpass 10 trillion yen over the next decade. Key action items include the launch of a "Japan Business Week" by the Prime Minister’s Office to facilitate direct engagement with Japanese investors.
**Key Points / Main Content**
**Economic Performance and Reforms**
* India is the world’s fastest-growing major economy, recording a 7.7% GDP growth rate in the last financial year.
* The government has introduced a new generation of reforms in taxation, governance, and the ease of doing business to increase private sector participation.
* For four consecutive years, the Japan Bank for International Cooperation (JBIC) has ranked India as the most promising destination for Japanese businesses.
**Manufacturing and Export Success**
* Two-thirds of Suzuki’s global car production is now manufactured in India and exported to over 100 countries.
* Indian-manufactured motorcycles from Kawasaki, Yamaha, and Honda are being exported to global markets.
* The partnership aims to combine Japanese expertise in precision manufacturing and medical technology with India’s industrial speed and scale.
**Strategic Bilateral Agreements**
* New agreements have been concluded in critical areas including economic security, artificial intelligence, defense, and healthcare.
* The Prime Minister’s Office (PMO) will organize a dedicated "Japan Business Week" featuring direct dialogue between senior officials and Japanese business leaders to resolve concerns.
**Future Targets and Vision**
* A target has been set to exceed 10 trillion yen in Japanese investment in India over the next 10 years.
* There is a strategic goal to double the number of Japanese companies operating in India within the next decade.
* The vision for the partnership includes creating resilient supply chains in semiconductors, pharmaceuticals, and critical minerals, as well as leadership in clean energy and aerospace.
**Impact Analysis**
**Japanese Business Leaders and Companies**
**Impact**
They are identified as the primary drivers for translating the bilateral vision into tangible economic outcomes and benefit from increased incentives and sector openings.
**Action Required**
Must strive to meet the 10 trillion yen investment target, double the number of operating companies in India, and engage with the PMO during the upcoming Japan Business Week.
**Prime Minister’s Office (PMO)**
**Impact**
The PMO is now directly responsible for a new level of engagement with foreign investors to facilitate the ease of doing business.
**Action Required**
Organize and execute "Japan Business Week" and conduct in-depth discussions with Japanese stakeholders to address investment barriers.
**Indian Manufacturing and Technology Sectors**
**Impact**
Sectors such as semiconductors, AI, defense, and biotechnology are positioned for growth through Japanese capital and technological collaboration.
**Action Required**
Adopt the "Kaizen" philosophy of continuous improvement and scale operations to support global supply chain resilience.
Key Entities Referenced
India–Japan Joint Economic Forum: The primary platform for bilateral economic cooperation and the venue for the Prime Minister's address regarding the India-Japan partnership.
Japan Business Week: A new initiative announced by the Prime Minister's Office (PMO) to facilitate direct engagement with Japanese investors and enhance the ease of doing business.
Prime Minister’s Office (PMO): The central government body responsible for organizing Japan Business Week and coordinating efforts to facilitate Japanese investment in India.
Japan Bank for International Cooperation (JBIC): The Japanese financial institution whose surveys are cited as a benchmark for ranking India as a top destination for Japanese businesses.
Kharkhoda, Haryana: The location of Maruti Suzuki’s new manufacturing plant, highlighted as a key example of successful industrial cooperation between India and Japan.
Prime Minister's Office
English Translation of Prime Minister Narendra
Modi’s Address at the India-Japan Business
Forum
प्रव तथ: 02 JUL 2026 9:48PM by PIB Delhi
Your Excellency, my younger sister, Prime Minister Takaichi,
Business leaders from both our countries,
Namaskar,
Konnichiwa
It gives me great pleasure to be here with all of you at the India–Japan Joint Economic Forum.
Many of the companies represented here have been associated with India for decades. Some have been
part of India’s journey for well over a century.
And to our new partners who are joining this Forum, I extend my heartfelt congratulations on becoming a
part of the India–Japan success story.
Friends,
The India–Japan relationship is truly special.
There are many outstanding examples of the success of our economic partnership.
Just a short while ago, we inaugurated Maruti Suzuki’s new manufacturing plant at Kharkhoda in
Haryana. Today, nearly two-thirds of Suzuki’s cars worldwide are manufactured in India and are exported
to more than 100 countries.
Prime Minister Takaichi, I have been told that you are very fond of motorcycles. We are delighted that
motorcycles manufactured in India by Kawasaki, Yamaha, and Honda are today being exported to markets
around the world.
Likewise, whether it is air conditioners, power grid equipment, precision manufacturing, or medical
technology, when Japan’s expertise and investment come together with India’s speed and scale, the entire
world stands to benefit.
Friends,
Today, the global economy is grappling with supply chain disruptions, uncertainty in trade, and a
slowdown in global demand.
But as the saying goes:
“When the going gets tough, the tough get going.”
India is the world’s fastest-growing major economy.In the last financial year, India recorded a GDP growth rate of 7.7 per cent.
Not only that, over the past twelve years, we have been transforming India’s economic DNA by embracing
the philosophy of Kaizen-the principle of continuous improvement.
Just a few months ago, we introduced a new generation of reforms in taxation, governance, and the ease of
doing business.
We are opening up every sector of the economy to greater private sector participation.
At the same time, we are offering incentives across several key sectors, creating opportunities that all of
you can benefit from.
This is precisely why, for the fourth consecutive year, the survey conducted by the Japan Bank for
International Cooperation (JBIC) has ranked India as the most promising destination for Japanese
businesses.
Today, I would also like to share a new initiative with all of you. The Prime Minister’s Office (PMO) will
organize a dedicated Japan Business Week. During this initiative, senior officials from the PMO will
engage directly with you, listen to your concerns, and hold in-depth discussions on further enhance the
ease of doing business, with the objective of facilitating greater Japanese investment and partnership in
India.
Friends,
Today, Prime Minister Takaichi and I resolved to make our partnership even more dynamic and deeper.
We have concluded agreements across a wide range of areas, including economic security, artificial
intelligence, defence, and healthcare, which will make this partnership future-oriented and virtually
limitless.
There is strategic synergy, mutual confidence, and, above all, clarity between our two governments.
It is now your responsibility to translate this shared vision into tangible outcomes.
Friends,
Together, you must ensure that, over the next decade, Japanese investment in India not only meets but
surpasses the target of 10 trillion yen.
At the same time, we should strive to double the number of Japanese companies operating in India over
the next ten years.
Friends,
I would like to share a vision with you.
I envision a world where Japan’s technology and India’s market potential come together to provide the
world with resilient supply chains in semiconductors, pharmaceuticals, and critical minerals.
Where Japan’s capital and India’s ambition come together to create new global leadership in shipbuilding,
mobility, and clean energy.
Where the start-up ecosystems of India and Japan drive the world’s next generation of solutions in
artificial intelligence, quantum technologies, and biotechnology.
And where unprecedented cooperation in aerospace and defence enables us to make an even stronger
contribution to global security.
Friends,Let us, through this partnership founded on trust and optimism, pave the way for mutual growth and
global good.
As Toyota says, “Let’s go places”
Thank you very much.
DISCLAIMER: This is the approximate translation of Prime Minister's address. Original address
was delivered in Hindi.
***
MJPS/SS/VJ
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इस वज्ञ को इन भाषाओ ंम पढ़: ही , Gujarati