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According to the Prime Minister's Office (PMO), top executives and CEOs of 34 Japanese companies participated in the event
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Despite the slowdown in global foreign direct fund (FDI), India has attracted record FDI of USD 84 billion in the previous financial year, said Prime Minister Narendra Modi on Monday during his meeting with Japanese business leaders in Tokyo.
He termed this a vote of confidence in India's economic potential. He invited greater participation by Japanese companies in India and proposed celebrating Japan’s contribution to India’s development journey in the form of a ‘Japan Week’.
Majority of these companies have investments and operations in India. The companies represented diverse sectors including automobiles, electronics, semiconductors, steel, technology, trading and banking and finance, he said.
Stressing that India and Japan are natural partners, the Prime Minister lauded the business community as brand ambassadors of the immense potential of India-Japan ties.
Modi said that during the visit of Prime Minister Kishida to India in March 2022, both countries had set an ambitious target of investment of Japanese Yen 5 trillion over the next 5 years.
The Prime Minister highlighted recent developments in economic ties, such as India-Japan Industrial Competitiveness Partnership (IJICP) and the clean energy partnership, among others.
He talked about initiatives such as the National Infrastructure Pipeline (NIP), Production Linked Incentive (PLI) scheme, and semiconductor policy and highlighted the robust startup ecosystem of India.