Prime Minister Narendra Modi chaired a roundtable with Japanese business leaders on 23 May 2022 in Tokyo. Top officials and CEOs of as many as 34 Japanese companies participated in the event. The majority of these companies have investments and operations in India. The companies represented diverse sectors including automobiles, electronics, semiconductors, steel, technology, trading and banking & finance.
Moreover, key business bodies and organizations from India and Japan such as Keidanren, Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Japan-India Business Consultative Committee(JIBCC) and Invest India also participated in the event.
Stressing that India and Japan are natural partners, Prime Minister lauded the business community as brand ambassadors of the immense potential of India-Japan ties. Prime Minister said that during the visit of Prime Minister Kishida to India in March 2022, both countries had set an ambitious target of investment of Japanese Yen 5 trillion over the next 5 years. Prime Minister highlighted recent developments in economic ties, such as India-Japan Industrial Competitiveness Partnership (IJICP) and Clean Energy Partnership, among others. He talked about initiatives such National Infrastructure Pipeline (NIP), Production Linked Incentive (PLI) scheme, and semiconductor policy and highlighted the robust startup ecosystem of India.
Prime Minister noted that despite the slowdown in global FDI, India has attracted a record FDI of USD 84 billion in the previous financial year. He termed this a vote of confidence in India’s economic potential. He invited greater participation by Japanese companies in India and proposed celebrating Japan’s contribution to India’s development journey in the form of a ‘Japan Week’.
Some of the top Business Leaders who participated in the Business Forum included: Seiji Kuraishi, Chairman and Director, Honda Motor Co., Ltd; Makoto Uchida, Representative Executive Officer, President & CEO; Nissan Motor Corporation; Akio Toyoda, President and member of the board of directors; Toyota Motor Corporation; Yoshihiro Hidaka, President, CEO & Representative Director, Yamaha Motor Corporation; Toshihiro Suzuki, President & Representative Director, Suzuki Motor Corporation; Toshiya Matsuki, Senior Vice President, NEC Corporation; Toshiaki Higashihara, Director, Representative Executive Officer, Executive Chairman & CEO, Hitachi Ltd; Yoshihiro Mineno, Senior Executive Officer, Member of the Board, Daikin Industries Ltd; Yoji Taguchi, Chairman and Managing Director of Mitsubishi Corporation, among others.
Prime Minister also had separate meetings with Masayoshi Son, Board Director and Founder, Softbank Corporation; Osamu Suzuki, Senior Advisor, Suzuki Motor Corporation; Dr. Nobuhiro Endo, Chairman, NEC Corporation and Tadashi Yanai, Chairman, President & CEO, Fast Retailing Co. Ltd.
