Prime Minister Narendra Modi on Monday met Masayoshi Son of SoftBank and Osamu Suzuki of Suzuki Motor, among other Japanese business leaders, to discuss investment opportunities in India in sectors ranging from textiles to automobiles. Appreciating their efforts during the meeting, Son said, India is becoming number three in the world for new startups and unicorns, while Osamu Suzuki said, Prime Minister Modi’s reforms are indescribable.
The Prime Minister arrived in Japan on Monday to attend a summit of Quad leaders at the invitation of his Japanese counterpart Fumio Kishida. On the sidelines of the summit, during a separate bilateral meeting, PM Modi met key business leaders in Japan.
PM Modi The electronic giant first met with Nobuhiro Ando, president of NEC Corporation, followed by a meeting with Tadashi Yanai, CEO of Japanese clothing brand Uniqlo. Subsequently meetings were held with masayoshi sono And osamu suzuki Discussing investment opportunities.
PM appreciates role of NEC in Telecom Sector of India
With regard to the meeting with Endo, the PM’s office statement said, “They discussed various reforms being undertaken for ease of doing business in India including industrial development, taxation and labor. I also discussed the opportunities,”
On his part, Ando said, that Prime Minister Modi has a strong intention to build and enhance capabilities in India, “we are very happy to contribute in those areas.”
Modi appreciated the role of NEC in India’s telecom sector, especially in the Chennai-Andaman and Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) optical fiber cable projects.
Modi asks Uniqlo to participate in ‘PM-Mitra’ to strengthen textiles sector
With Yanai, Chairman, CEO, Uniqlo’s parent company Fast Retailing Company Limited, the PM discussed investment opportunities under the PLI scheme for India’s rapidly growing textile and apparel market and textile projects.
“They also discussed the various reforms being undertaken to make it easier for foreign investors to do business in India, including in the areas of industrial development, infrastructure, taxation and labour,” he said.
The Prime Minister also invited the increased participation of Uniqlo in India’s journey to become a manufacturing hub for textiles, especially in addition to the use of technologies in textile manufacturing, allowing the Japanese apparel major to participate in the ‘PM-Mitra’ scheme. asked to take, whose aim is to further strengthen the country. textile sector.
India becoming number 3 in the world for new startups and unicorns: Masayoshi Son
During a meeting with Son, the founder and CEO of the Japanese investment company, Modi lauded the role of SoftBank Corporation in India’s startup sector. “They discussed SoftBank’s future involvement in India in key areas such as technology, energy and finance,” the official statement said.
Son said that India is “growing very fast with new startups everyday and unicorns are coming very fast”, becoming number three in the world for new startups and unicorns.
He said, “India has a bright future. Prime Minister Modi is committed to the success of India, supporting startups, creating more unicorns and making it the center of high technology in the world.”
PM Modi’s reforms indescribable: Osamu Suzuki
During his meeting with Suzuki, the Prime Minister recalled the association and contribution of the veteran Japanese industry leader to India and appreciated the transformative role of Suzuki Motor Corp. in the country’s automotive industry.
“They discussed further investment opportunities in India, including the establishment of recycling centers for electric vehicles and batteries, as well as to achieve the goal of sustainable development,” the official statement said.
The meeting also discussed strategies for building a local innovation ecosystem in India, including the Japan-India Manufacturing Institute (JIM) and skill development through the Japanese Endowed Curriculum (JEC).
Suzuki said, “Prime Minister Modi’s reforms are indescribable, in the sense that he is bringing reforms that are transforming the whole of India into a model landscape.”
(with inputs from agencies)