Modi meets industry leaders in Japan, invites them to invest in India

New Delhi, May 23: Visiting Prime Minister Narendra Modi, who arrived in Tokyo on Monday on a two-day visit, met three important business leaders of Japan and invited them to invest in India.

Shortly after his arrival, Modi first met Nobuhiro Endo, the Chairman of NEC Corporation.

The Prime Minister lauded the NEC's role in India's telecommunication sector, especially in undertaking Chennai-Andaman & Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects. He also highlighted India's investment opportunities under the Production Linked Incentive (PLI) scheme.

During the meeting, they discussed various reforms being undertaken to enable ease of doing business in India including in industrial development, taxation and labour. They also discussed opportunities in India in new and emerging technologies.

According to the Prime Minister's Office (PMO), Endo spoke about opportunities in India in areas such as smart cities, emerging technologies and an innovative effort to encourage learning of Japanese in India.

Modi also met Osamu Suzuki, senior advisor of the Suzuki Motor Corporation, and discussed further investment opportunities in India including setting up of production facilities for electric vehicles and batteries as well recycling centres, for realizing the goal of sustainable growth.

They also discussed strategies for building the local innovation system in India, including skill development through Japan-India Institutes of Manufacturing (JIM) and Japanese Endowed Courses (JEC).

Recalling Suzuki's association and contribution in India, Modi appreciated the transformational role of Suzuki Motors in the automotive industry of India.

He also appreciated that Suzuki Motor Gujarat Pvt Ltd. and Maruti Suzuki India Ltd were among the applicants approved under Production Linked Incentives (PLI) scheme in automobile and auto component sector.

According to the officials in PMO, after meeting Modi, Suzuki said: "Reforms undertaken by PM Modi are indescribable and these reforms are changing India into a 'Model Landscape' while the self reliance (Aatmanirbhar) theme is supported by the Japanese's investors very strongly."

Modi also held two other meetings with Tadashi Yanai, Chairman, President and CEO of Uniqlo, a Japanese casual wear designer, manufacturer and retailer; and Founder of SoftBank Group Masayoshi Son.

During their meeting, Yanai appreciated the entrepreneurial zeal of the people of India and said: "We can focus on end to end products i.e. from plant to design to fabric. We want to make growth in India. IT talent in India is excellent... I just want to say, 'Let's Do it'."

On his part, Modi asked Yanai to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector. said the PMO.

Meanwhile, the Prime Minister and the Softbank Group founder discussed subjects like India's strides in the world of StartUps, opportunities in research, technology and ways to boost investment linkages.

Modi arrived here on a two-day visit at the invitation of his Japanese counterpart Fumio Kishida.

He is scheduled to participate in the third Quad Leaders' Summit in Tokyo on Tuesday along with US President Joe Biden, Australian Prime Minister Anthony Albanese and Kishida.

Modi and Kishida will also hold a bilateral meeting.