India and Japan on Thursday set an ambitious target to mobilise 10 trillion yen in Japanese investment into India over the next decade, marking a significant step in deepening their trade and strategic partnership.

The announcement was made during the 16th India‑Japan Annual Summit in New Delhi, attended by Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi.

The two countries unveiled a joint roadmap to strengthen cooperation in semiconductors, quantum technology, clean energy and resilient supply chains. This roadmap is designed to address global uncertainties and ensure both economic and energy security.

Prime Minister Modi highlighted that the investment partnership between India and Japan was gaining momentum, noting that 120 new business agreements had been signed in the past year, bringing in more than USD 10 billion of Japanese investment. He emphasised that agreements between financial services agencies would further facilitate capital and investment flows.

Modi stated that the goal was clear: to invest 10 trillion yen from Japan into India over the next ten years and to double the number of Japanese companies operating in India. He underlined that India’s continuous reforms had improved the ease of doing business, creating opportunities for Japanese firms.

The Prime Minister also explained that both countries had prepared a joint roadmap on energy and economic security.

This included strengthening supply chain resilience in strategic areas such as semiconductors, quantum technology and advanced materials. He further noted that important initiatives on energy resilience had been taken to deal with situations like oil shocks.

Modi added that cooperation in batteries, green hydrogen and nuclear energy would make a vital contribution to the world’s clean energy future. He stressed that India and Japan viewed economic security as shared security and energy transition as a shared opportunity.

Japanese Prime Minister Takaichi, in her address, confirmed that she and Modi had engaged in discussions over diverse issues, with economic and energy security among the three central points of cooperation. She emphasised the need to urgently build resilience in critical minerals supply chains, particularly in light of challenges such as economic weaponisation and non‑market practices.

Takaichi also highlighted the responsibility of both countries to provide region‑wide energy security, especially given the impact of the Middle East situation. She announced that both nations had released a joint statement for public and private sectors to engage in concrete action for economic security cooperation.

She explained that cooperation between India and Japan would include co‑creation of economic growth through investment and innovation collaboration. She committed to enhancing Japan’s supply capability and technological strength by investing in 17 strategic areas.

She linked this to Prime Minister Modi’s Viksit Bharat initiative, which aims to make India a developed nation by 2047, noting that both countries shared the goal of becoming strong and prosperous through future‑oriented investments.

Takaichi pointed out that the business community was strongly supporting these efforts, with around 120 cooperation documents signed between Indian and Japanese companies during her visit, amounting to investments on the scale of two trillion yen. She expressed the desire to forge a path toward the future through unified efforts of public and private sectors in both countries.

Earlier in the day, Modi and Takaichi held bilateral discussions before leading delegation‑level talks. The Indian delegation included External Affairs Minister S Jaishankar, National Security Adviser Ajit Doval and Foreign Secretary Vikram Misri, along with other senior officials. Takaichi also received a ceremonial welcome at Rashtrapati Bhavan.

Her visit to India, taking place from 1 to 3 July at Modi’s invitation, follows Modi’s trip to Tokyo in August 2025 for the 15th Annual Summit. The Annual Summit continues to serve as the flagship platform driving the strategic agenda of the partnership.

This latest summit underscores the growing convergence between India and Japan in addressing global challenges, building resilient supply chains, advancing cooperation in critical technologies, and strengthening defence and energy security collaboration.

ANI