Modi meets top Japanese business leaders in Tokyo, invites them to invest in India
Prime Minister Narendra Modi meeting Osamu Suzuki, Adviser, Suzuki Motor Corporation, in Tokyo, Japan on May 23, 2022.

Modi meets top Japanese business leaders in Tokyo, invites them to invest in India

Tokyo, May 23, 2022

Prime Minister Narendra Modi, who arrived here today on a two-day visit, met top Japanese business leaders separately and invited them to take advantage of the vast investment opportunities opening up in India.

Shortly after his arrival here, Modi met Nobuhiro Endo, Chairman, NEC Corporation and appreciated the Japanese company'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 investment opportunities under Production Linked Incentive (PLI) scheme, a press release from the Indian Prime Minister's Office (PMO) said.

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.

Modi later met Osamu Suzuki, Senior Advisor, Suzuki Motor Corporation. He Suzuki’s association and contribution in India and appreciated the transformational role of Suzuki Motors in the automotive industry of India. They 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.

They 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), the release said.

In his meeting with Tadashi Yanai, Chairman, President & CEO, Fast Retailing Co. Ltd., the parent company of Uniqlo, they discussed the rapidly growing textile and apparel market of India and investment opportunities under Production Linked Incentive (PLI) scheme for textile projects in India. They also discussed various reforms being undertaken to enable ease of doing business for foreign investors in India including in the areas of industrial development, infrastructure, taxation and labour.

Modi invited Uniqlo’s enhanced participation in India’s journey to becoming a manufacturing hub for textiles, particularly the use of technologies in textile manufacturing. He also invited Uniqlo to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector.

The Prime Minister also met Masayoshi Son, Board Director and Founder, Softbank Corporation. He appreciated Softbank’s role in India’s startup sector. They discussed Softbank’s future participation in India in key areas such as technology, energy and finance.

They discussed various reforms being undertaken to enable ease of doing business in India. Specific proposals were shared with Softbank where it could enhance its investments in India, the release added.

NNN

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