The Prime Minister discussed opportunities in digital learning, fintech, infra and logistics networks with the head of Japanese IT giant NEC Corporation.
The Prime Minister discussed opportunities in digital learning, fintech, infra and logistics networks with the head of Japanese IT giant NEC Corporation.
Ahead of the bilateral meeting with his Japanese counterpart, Prime Minister Narendra Modi On Monday, May 23, 2022, he said he sees Japan as an “inevitable partner” in India’s continued transformation, adding that combined with New Delhi’s speed and scale ease of doing businessAttractive incentives, bold reforms and ambitious plans create unmatched opportunities for Japanese businesses.
Prime Minister Narendra Modi with NEC Corporation President Nobuhiro Ando during a meeting in Tokyo on May 23, 2022. photo credit: PTI
PM Modi, who is in Japan one day Two-day visit to attend the summit of the Quad Leader at the invitation of his Japanese counterpart fumio kishidawrote an op-ed on the vibrant relations between India and Japan in the Yomiuri Shimbun.
Mr. Modi will have a bilateral meeting with Mr. Kishida on Tuesday, his second meeting in two months.
In an article titled ‘India-Japan: A Partnership for Peace, Stability and Prosperity’, he said that over the years, India has embarked on a journey to build a strong foundation for the manufacturing sector, services, agriculture and digital technology. basic infrastructure.
bullet train project
“I see Japan as an essential partner in India’s continuing transformation,” Modi said.
For Japan, India’s speed and scale along with ease of doing business, attractive incentives, bold reforms and ambitious plans create unmatched opportunities, he said.
“We have also promoted a Dynamic Startup Ecosystem in India, with over 100 unicorns. The Japanese capital is already playing a key role in this effort. Much more is likely to be done,” according to Mr Modi.
There is cooperation between India and Japan in several development projects, including the Government of India’s ambitious Mumbai-Ahmedabad bullet train project.
“The The prestigious Mumbai-Ahmedabad High Speed Rail Project It symbolizes Japan’s extensive cooperation in some of the most important efforts to build a new India,” Prime Minister Modi said.
The 508.17 km long network will pass through three districts of Maharashtra (Mumbai, Thane and Palghar) and eight districts of Gujarat (Valsad, Navsari, Surat, Bharuch, Vadodara, Anand, Kheda and Ahmedabad).
The total cost of the project is estimated at ₹1.08 lakh crore and as per the shareholding pattern, the Government of India is to pay ₹10,000 crore to the National High Speed Rail Corporation, while the two states involved are Gujarat and Maharashtra paying ₹5,000 crore each. Do it. The balance is to be paid by Japan through a loan at 0.1 percent interest.
Japan is regarded as a major partner in India’s economic transformation.
strengthen relationships
In recent times, the India-Japan relationship has grown into a partnership of great essence and purpose. Japan’s interest in India is growing for a number of reasons, including India’s large and growing market and its resources, especially human resources.
Foreign Secretary Vinay Mohan Kwatra said in a media briefing on Prime Minister Modi’s visit to Japan in New Delhi on Saturday that Japan is one of India’s most important partners.
“Modi has referred to India-Japan relations as one of the most natural in the region. In the past few years, the India-Japan Special Strategic and Global Partnership has seen considerable momentum.
“The meeting (between Modi and Kishida) will be an opportunity to take forward the high level engagement between the two countries as well as take forward the agenda of bilateral cooperation,” he said.
Japan’s bilateral trade with India stood at USD 17.63 billion in the financial year 2018-19. According to the Ministry of External Affairs, exports from Japan to India during this period stood at US$ 12.77 billion and imports at US$ 4.86 billion.
“Bilateral trade between India and Japan for the financial year 2019-20 (April-December) totaled USD 11.87 billion. India’s exports from Japan were USD 3.94 billion while India’s imports from Japan were USD 7.93 billion.
India’s primary exports to Japan are petroleum products, chemicals, elements, compounds, non-metallic mineral utensils, fish and fish preparations, metal ores and scraps, clothing and accessories, iron and steel products, textile yarns, clothing and machinery. .
India’s primary imports from Japan are machinery, electrical machinery, iron and steel products, plastic materials, non-ferrous metals, motor vehicle parts, organic chemicals, manufacturing metals, etc.
Japanese Prime Minister Kishida paid a two-day visit to India Will organize the 14th India-Japan summit with his Indian counterpart Modi from March 19.
PM meets heads of top tech giants
Prime Minister Narendra Modi on Monday met Nobuhiro Ando, the head of Japanese multinational information technology electronics giant NEC Corporation.
Mr Modi “highlighted India’s reform path. He talked about opportunities in areas such as digital learning, fintech, infra and logistics networks,” tweeted PMO India.
The Prime Minister appreciated the role of NEC in India’s telecom sector, especially in the Chennai-Andaman and Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects, the Ministry of External Affairs said in a statement. He also highlighted the investment opportunities under the Production Linked Incentive (PLI) scheme
investment in textile manufacturing
Mr Modi also met the CEO of Japanese clothing brand Uniqlo to discuss investment opportunities for the retailer in textile manufacturing in India.
“Promoting India’s textile sector. PM @narendramodi met Tadashi Yanai, CEO of Fast Retailing, parent company of @UNIQLO_JP,” tweeted Arindam Bagchi, MEA spokesperson. “Discussed the growing presence of Uniqlo in India and investment opportunities for textile manufacturing in India under the PLI scheme.” While Yanai appreciated the entrepreneurial zeal of the people of India, tweeted PMO India, Modi asked them to “participate in the PM-Mitra scheme aimed at further strengthening the textiles sector.”
The objective of PM Mega Integrated Textile Region and Apparel (PM Mitra) Park Scheme is a special purpose vehicle owned by the Central and State Government and to develop Textile Park through Public-Private Partnership (PPP) model.