Prime Minister Narendra Modi’s upcoming visit to Japan from August 29 to 30 for the Annual Bilateral Summit marks a pivotal moment in India–Japan relations, as Tokyo is anticipated to double its investment pledge to New Delhi.
“At the invitation of Prime Minister Shigeru Ishiba, I am embarking on a two-day visit to Japan for the 15th Annual Summit,” a pre-departure statement issued by Modi on Thursday before embarking for Japan reads, News.Az reports citing foreign media.
“During my visit, we would focus on shaping the next phase in our Special Strategic and Global Partnership, which has made steady and significant progress over the past 11 years,” he stated. “We would endeavour to give new wings to our collaboration, expand the scope and ambition of our economic and investment ties, and advance cooperation in new and emerging technologies, including AI and Semiconductors. The visit will also be an opportunity to strengthen our civilisational bonds and cultural ties that connect our peoples.”
According to reports in the Japanese media, Tokyo is expected to elevate its private-sector investment target from five trillion yen to 10 trillion yen (around $68 billion) over the coming decade – a dramatic vote of confidence that aligns with India’s ‘Make in India’ and ‘Make for the World’ ambition.
This will be the 15th Annual Bilateral Summit between India and Japan and the first between Modi and his Japanese counterpart Shigeru Ishiba, though the two leaders have met on the sidelines of multilateral summits earlier.
“India and Japan are two countries that share values, trust, and strategic outlook on several issues,” Foreign Secretary Vikram Misri said in a special media briefing here ahead of Modi’s visit to Japan. “They are two of Asia’s leading democracies and amongst the top five world economies. Our bilateral relations have expanded steadily in scope and ambition over the last decade, and today comprise trade and investment, defence and security, science and technology, infrastructure and mobility, people-to-people contact, and vibrant cultural engagement between the two sides.”
