Prime Minister Narendra Modi, addressing the India-Japan Economic Forum in Tokyo on Friday, underscored India’s rapid economic transformation and growing attractiveness as an investment destination, declaring that in India, “capital does not just grow, it multiplies.”
Quoting a survey by the Japan External Trade Organisation (JETRO), PM Modi said, “Eighty per cent of companies want to expand in India, while 75 per cent are already making profits. This reflects the immense potential of the Indian market.”
Highlighting India’s strong fundamentals, he added, “Today, India enjoys political and economic stability, transparency in governance, and predictable policies. With a robust banking system, low inflation, low interest rates, and nearly USD 700 billion in foreign exchange reserves, India is poised to soon become the world’s third-largest economy.”
PM Modi credited India’s growth to his government’s “Reform, Perform, Transform” approach, citing landmark initiatives such as GST, single-window clearances, and measures to improve ease of doing business.
On India-Japan ties, the Prime Minister stressed Tokyo’s crucial role in India’s growth story: “From Metro to Manufacturing, semiconductors to start-ups, our partnership has always been built on trust. Japanese companies have invested more than USD 40 billion in India, including USD 13 billion of private investment in just the last two years.”
The Prime Minister arrived in Tokyo earlier on Friday for a two-day official visit to attend the 15th India-Japan Annual Summit, marking his first standalone trip to Japan in nearly seven years. He will hold detailed talks with Japanese Prime Minister Shigeru Ishiba on strengthening the Special Strategic and Global Partnership, reviewing progress in multiple sectors, and discussing regional and global issues.
Following his Japan visit, PM Modi will head to Tianjin, China, from August 31 to September 1 to attend the Shanghai Cooperation Organisation (SCO) Summit.