Economy

Modi to meet Japan’s Ishiba next week to discuss trade, investments, critical minerals

Prime Minister Narendra Modi

Prime Minister Narendra Modi

Prime Minister Narendra Modi will pay an official visit to Japan on August 29-30 and hold a bilateral meeting with his Japanese counterpart Shigeru Ishiba, per the Ministry of External Affairs. 

Modi will also visit China on August 31-September 1 to attend the Shanghai Cooperation Organisation (SCO) Summit.

Ishiba and Modi are likely to announce revision of Japan’s goals for private-sector investment in India to 10 trillion yen ($68 billion) over the next decade, according to reports in Japanese media.

“The Government of Japan sincerely welcomes the visit of the Prime Minister and hopes the visit will further strengthen the friendship and cooperation between Japan and India,” a Japanese government statement issued on Friday noted.

Doubling investment

The revised target for Japanese investments worth 10 trillion yen in India will be a doubling of the country’s commitment of investing 5 trillion yen ($34 billion) over five years announced in March 2022 during former Japanese Prime Minister Fumio Kishida’s India visit.

“During the visit, the two Prime Ministers will review the special strategic and global partnership between India and Japan, including defence and security, trade and economy, technology and innovation, and people to people exchanges, as well as discuss issues of regional and global importance. The visit will reaffirm the longstanding special bond of friendship between the two countries,” the MEA release said.

A new bilateral cooperation framework to address economic security challenges, including supplies of critical minerals, is also likely to be finalised during Modi’s visit, per sources.

This will be Modi’s eighth time visit to Japan as the Prime Minister. 

In the second leg of his visit, at the invitation of the President of China Xi Jinping, Modi will travel to China for the SCO Summit.

“On the sidelines of the Summit, Prime Minister is expected to hold bilateral meetings with several leaders attending the Summit,” the MEA release said.

Published on August 22, 2025

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