India, Japan Firm Up Economic Cooperation

New Delhi:Opening a “new and golden chapter” in the Special Strategic and Global Partnership with Japan, Prime Minister Narendra Modi held “productive and purposeful” talks during the more than two-hour-long bilateral Annual Summit with his Japanese counterpart Shigeru Ishiba in Tokyo on Friday. The two nations inked 13 pacts, including a 10-year strategic roadmap, a joint vision for economic cooperation, and a joint declaration on security cooperation, alongside several other announcements.

The roadmap covers cooperation in areas such as economic partnership, economic security, mobility, ecological sustainability, technology and innovation, health, and people-to-people exchanges. The pact on security establishes a comprehensive framework to strengthen defense and security cooperation in response to contemporary challenges, in line with the Special Strategic and Global Partnership. PM Modi also announced a private investment target of 10 trillion Japanese Yen (US$67 billion) from Japan to India over the next decade, declaring that “semiconductors and rare earth minerals shall remain at the top of our agendas.”

The day also saw the launch of the India–Japan Artificial Intelligence (AI) Initiative and an Economic Security Initiative to promote supply chain resilience in strategic sectors such as semiconductors, clean energy, telecom, pharmaceuticals, critical minerals, and emerging technologies. An Action Plan for India–Japan Human Resource Exchange was also agreed upon, aimed at facilitating the two-way exchange of five lakh people, including 50,000 skilled and semi-skilled workers from India to Japan in the next five years.

Declaring that “Indian talent and Japanese technology” comprise a “winning combination,” PM Modi said that “Japan’s excellence and India’s scale can create a perfect partnership.” He emphasized that deepening the economic partnership between trusted friends is particularly important amid the current turbulent global economic scenario and urged Japanese investors to “Make in India and Make for the World,” adding that “the world is not just watching India, it is counting on India.” Mr. Ishiba, in his remarks, highlighted India’s “dramatic economic growth and transformation” and advocated stronger security cooperation, while citing the Unified Complex Radio Antenna, the UNICORN project, which is a common radar mast for use on Indian Navy platforms.

With an eye on China, the two Prime Ministers expressed “serious concern over the situation in the East China Sea and the South China Sea” and reiterated their “strong opposition to any unilateral actions that endanger safety, freedom of navigation, and overflight, or attempt to change the status quo by force or coercion.” They also voiced concern over the militarization of disputed features and reaffirmed that maritime disputes must be resolved peacefully in accordance with international law, particularly the UN Convention on the Law of the Sea (UNCLOS). They further expressed “full commitment to a free, open, peaceful, prosperous, and rules-based Indo-Pacific.” The two leaders “strongly condemned cross-border terrorism” and denounced the terrorist attack in Pahalgam in April this year, calling for concerted action against all UN-listed terrorist groups, including Pakistan-based LeT and JeM. They also noted a UN report that mentioned The Resistance Front (TRF), which had claimed responsibility for the Pahalgam attack.

The Joint Declaration on security cooperation calls for bilateral exercises between the two forces in diverse fields with increasing complexity, the establishment of a new comprehensive dialogue framework between Joint Staffs, and tri-service exercises for humanitarian and disaster relief operations in the Indo-Pacific. It also emphasizes collaboration between Special Operations Units, enhanced use of the Reciprocal Provision of Supplies and Services Agreement, and co-development and co-production of equipment and technology, including technology-sharing in new fields to support operational approaches.

PM Modi stated, “India and Japan’s partnership is strategic and smart. Powered by economic logic, we have turned shared interests into shared prosperity. India is the springboard for Japanese businesses to the Global South. Together, we will shape the Asian Century for stability, growth, and prosperity.” He stressed that the partnership, rooted in mutual trust and shared values, is important not only for the two countries but also for global peace and stability. He also reiterated Japan’s pivotal role in India’s growth journey, from metros and manufacturing to semiconductors and start-ups.

On high-speed rail connectivity, the Joint Statement noted the importance of the Mumbai–Ahmedabad High Speed Rail as a flagship project. Both sides agreed to work toward the commencement of operations at the earliest and cooperate on the introduction of the latest Japanese Shinkansen technology in India. India appreciated Japan’s offer to introduce the E10 series of Shinkansen, which runs on the Japanese signaling system, in the early 2030s.

The 13 pacts signed included agreements on a Joint Crediting Mechanism to promote decarbonizing technologies, a Digital Partnership 2.0 to advance collaboration in digital public infrastructure and AI, and a pact on cooperation in mineral resources for critical mineral supply chain resilience. Another pact established an implementing arrangement between ISRO and JAXA on the Chandrayaan-5 lunar polar exploration mission. Additional documents promoted cooperation in hydrogen/ammonia research, cultural exchanges, wastewater management, environment, education, sports, and science and technology.

The AI initiative aims to advance collaboration in large language models, training, capacity building, and support for start-ups, while the Next-Generation Mobility Partnership focuses on infrastructure, logistics, and mobility sectors. Other outcomes included the launch of the India–Japan Small and Medium Enterprises Forum, the Sustainable Fuel Initiative, and enhanced state–prefecture exchanges, including business forums with Japan’s Kansai and Kyushu regions.

In his press statement, PM Modi said, “Today, we have laid a strong foundation for a new and golden chapter in our Special Strategic and Global Partnership. We have set a roadmap for the next decade. Our vision focuses on investment, innovation, economic security, environment, technology, health, mobility, people-to-people ties, and state-prefecture cooperation. We have set a target of 10 trillion Yen investment from Japan in India over the next ten years. We will also give special attention to connecting SMEs and start-ups from both countries.”

He added that the Joint Credit Mechanism is a “big win for energy,” showcasing that the green partnership is as strong as the economic one. Cooperation in high technology, digital infrastructure, AI, and sustainable fuels will be key pillars of the partnership.

PM Modi stressed that “Japanese technology and Indian talent are a winning combination.” He welcomed the ISRO–JAXA cooperation on Chandrayaan-5, emphasized defense and security collaboration, and urged Japanese businesses to invest in India, citing India’s strong economic fundamentals, reforms, and rapid growth. He assured investors of India’s political and economic stability, predictable policies, low inflation, and robust foreign exchange reserves.

Finally, PM Modi outlined five major areas of cooperation for the future: manufacturing, technology and innovation, green energy transition, next-generation infrastructure, and skill development and people-to-people ties. He concluded by inviting Japanese investors to “Come, Make in India, Make for the World.”