India, Japan seal investment deal of ¥10 trillion over 10 years
Prime Minister Narendra Modi exchanges an MoU with his Japanese counterpart Shigeru Ishiba in Tokyo, Japan
| Photo Credit:
PTI
Prime Minister Narendra Modi and his Japanese counterpart Shigeru Ishiba set a new target of ¥10 trillion ($65 billion) of private investments from Japan to India over the next decade and agreed to collaborate in key sectors such as critical minerals and clean energy.
The two also decided to accelerate further review of the Comprehensive Economic Partnership Agreement (CEPA) to make it more forward-looking and to work towards commencement of operations on the introduction of the latest Japanese Shinkansen (bullet train) technology in India, per a joint statement issued on Friday following the 15th India-Japan Annual Summit in Tokyo.
Modi’s two-day official trip to Japan, to be followed by his visit to China to attend the SCO Summit, takes place in the shadow of US President Donald Trump’s tariff onslaught against all three.
‘Important partner’
“Japan has always been an important partner in India’s development. From metro (trains) to manufacturing, from semiconductors to start-ups, our partnership in every sector illustrates our mutual trust. Japanese companies have invested over $40 billion in India. In the last two years, $13 billion of private investments have come in,” Modi said at the India-Japan economic forum in Tokyo.
Modi pitched for a partnership with Japan in areas such as semiconductors, batteries, robotics, shipbuilding and nuclear energy in a “recreation of the same magic” forged in automobiles.
The progress made towards the earlier target of ¥5 trillion in public and private investment and financing set in 2022 for a period of five years was welcomed by the two.
The leaders adopted a joint vision for the next decade, which lays out whole-of-nation lines of efforts to steer the partnership in eight pillars such as economy, economic security, mobility, environment, technology and innovation, health, people-to-people ties and state-prefecture engagement. A joint declaration on security cooperation was also signed.
The two leaders endorsed bilateral efforts to support Japan Industrial Townships (JITs) and strengthen cooperation in logistics, textiles, food processing, agriculture, automotives, industrial capital goods and MSMEs under the India-Japan Industrial Competitiveness Partnership.
Published on August 29, 2025
