India, Japan unveil 10-trillion Yen investment plan

New Delhi, Aug 29: Prime Minister Narendra Modi and his Japanese counterpart Prime Minister Shigeru Ishiba on Friday announced a new decade-long roadmap to strengthen the India-Japan Special Strategic and Global Partnership, unveiling ambitious goals in trade, technology, defence, and people-to-people ties.

Speaking at the joint press interaction in Tokyo, Prime Minister Modi said the two leaders had held “productive and purposeful” discussions that will not only benefit both countries but also contribute to global peace and stability.

As part of the new framework, India and Japan set a target of ¥10 trillion (about ₹5.5 lakh crore) investment in India over the next ten years. Special focus will be placed on linking small and medium enterprises and start-ups from both nations. “Make in India, Make for the World,” Modi urged Japanese businesses at the India-Japan Business Forum.

The leaders also launched an Economic Security Cooperation Initiative, covering critical and strategic sectors, including supply chains, rare earth minerals, semiconductors, and advanced technologies. Digital Partnership 2.0 and an AI cooperation initiative will guide collaboration in high technology, while clean energy, sustainable fuels, and a new battery supply chain partnership will advance the green transition. In space cooperation, India’s ISRO and Japan’s JAXA agreed to collaborate on the upcoming Chandrayaan-5 mission. Modi hailed it as a symbol of how bilateral partnership can extend “beyond the boundaries of Earth into space.”

On mobility and infrastructure, the two sides resolved to deepen work on high-speed rail, ports, aviation, and shipbuilding under the Next Generation Mobility Partnership. A new action plan for human resource exchange aims to facilitate exchanges of five lakh people over the next five years, including 50,000 skilled Indian workers contributing to Japan’s economy. State-to-prefecture partnerships will also be expanded to boost trade, tourism, education, and cultural exchanges beyond national capitals.

The two leaders reaffirmed their commitment to a free, open, peaceful, prosperous, and rules-based Indo-Pacific, expressing shared concerns on terrorism, cyber security, and maritime stability. Defence industry cooperation and innovation will be strengthened further. “Our partnership is rooted in trust, reflects our national priorities, and is guided by shared values,” Modi said, while inviting Prime Minister Ishiba to India for the next annual summit.