New Delhi, July 3 (). Prime Minister Narendra Modi, while addressing the India-Japan Joint Economic Forum, emphasized the strong and long-standing economic relations between the two countries. In his address, the Prime Minister talked about further deepening cooperation in the areas of trade, investment, technology and innovation.
While addressing the India-Japan Joint Economic Forum, Prime Minister Modi said that it is a great pleasure for me to be present here with you on the platform.
The PM said that many companies present here have been associated with India for decades. Some have been a part of India’s development journey for more than a century. And I heartily congratulate the new partners who are joining this platform for becoming a part of this success story of India and Japan.
PM Modi said that the relationship between India and Japan is really very special. There are many wonderful examples of our economic partnership. Just a little while ago we inaugurated Maruti Suzuki’s new manufacturing plant in Kharkhoda, Haryana. Today, about two-thirds of Suzuki vehicles manufactured worldwide are made in India and exported to more than 100 countries.
During the address itself, Prime Minister Modi told PM Takaichi, “I have been told that you are very fond of motor bikes.”
The PM said that we are happy that motorcycles made in India from companies like Kawasaki, Yamaha and Honda are going to markets around the world today. Similarly, whether it is air conditioners, power grid equipment or medical technology, when Japan’s expertise and investment combines with India’s speed and scale, the entire world benefits.
The Prime Minister said that today the entire world economy is facing challenges like supply chain problems, uncertainty in trade and lack of demand. But as the saying goes, when things get tough, strong people work harder. India is the fastest growing large economy in the world today. India’s GDP growth in the last financial year was 7.7 percent. Not only this, in the last 12 years we have strengthened India’s economic system through continuous reforms.
He said that just a few months ago we have implemented many new reforms related to tax, governance and ease of doing business. We have opened up every sector of the economy more for private participation. Besides, incentives are also being given in many important areas, creating new opportunities for all of you. For this reason, India has remained the most attractive destination for Japanese companies for the fourth consecutive year in the survey of Japan Bank for International Cooperation (JBIC).
He said that today I also want to share a new initiative with you. The Prime Minister’s Office (PMO) will organize a special “Japan Business Week”. During this, senior PMO officials will meet you directly, listen to you and have in-depth discussions on making it easier to do business in India, so that Japanese investment and partnership can further increase.
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AY/ABM
