Prime Minister Narendra Modi on Friday showcased India’s political and economic stability at the India-Japan Economic Forum, calling the country a hub of transparency, predictability, and growth. His remarks come just two days after the United States imposed steep tariffs of up to 50% on Indian goods — a move that analysts warn could strain growth and job creation.
“Today, India has political stability, economic stability, transparency in policy, and predictability. Today, India is the fastest-growing major economy in the world. And very soon, it is going to become the third-largest economy in the world,” Modi said in Tokyo.
Economic Growth & Investment Climate
Highlighting India’s transformation over the last 11 years, Modi said the country contributes 18% to global GDP and offers strong returns for investors. “In India, capital doesn’t just grow, it multiplies,” he asserted.
Citing a Japan External Trade Organisation (JETRO) survey, Modi noted that 80% of Japanese companies plan to expand in India, with 75% already making profits. He credited India’s growth momentum to the government’s “reform, perform, transform” approach, including initiatives such as the Goods and Services Tax (GST), ease of doing business reforms, and single-window clearances for investors.
India–Japan Partnership
Calling the bilateral relationship “strategic and smart,” Modi said India serves as a springboard for Japanese businesses to expand into the Global South. “Together, we will shape the Asian Century for stability, growth and prosperity,” he declared.
Japanese companies have invested more than USD 40 billion in India to date, including USD 13 billion in private investment over the past two years. Modi pointed to successful partnerships spanning metro projects, manufacturing, semiconductors, and start-ups, calling Japan a “trusted partner” in India’s development journey.
Two-Day Japan Visit
PM Modi began his two-day visit to Tokyo on Friday, marking his first standalone trip to Japan in nearly seven years. He is attending the 15th India-Japan Annual Summit at the invitation of Prime Minister Shigeru Ishiba. The two leaders are expected to hold comprehensive talks on trade, technology, infrastructure, and regional security.
