This new goal would expand upon the 2022 pledge of 5 trillion yen in investment over five years. The announcement is expected against the backdrop of deepening India-Japan cooperation in promoting a free and open Indo-Pacific, particularly amid China’s growing influence in the region.
PM Modi’s Japan Visit from August 29
Prime Minister Modi will begin his three-day visit to Japan on August 29, his first trip there since May 2023, when he attended the G7 summit in Hiroshima. The investment pledge may be included in a joint statement following his summit talks with Japanese Prime Minister Shigeru Ishiba.
Strengthening Economic Security
Both governments are working to establish a new framework to boost collaboration in areas linked to economic security. Priority sectors include semiconductors, critical minerals, telecommunications, clean energy, artificial intelligence, and pharmaceuticals.
AI Cooperation Initiative on the Horizon
India and Japan are also expected to announce a new “AI Cooperation Initiative” to promote artificial intelligence and related startups. “We expect that collaboration with Indian companies in areas of expertise will contribute to the growth of Japan’s economy,” a source said. During the visit, PM Modi is also scheduled to tour a Shinkansen bullet train testing facility in Miyagi Prefecture and visit a leading Japanese semiconductor manufacturer.
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