PM Modi's reforms changing India into a model landscape: Japan Inc

By Team Newsable | First Published May 23, 2022, 1:03 PM IST

Prime Minister Narendra Modi pitched India as the investment destination and urged the Japanese industry heavyweights to explore opportunities in areas such as smart cities and emerging technologies.

Prime Minister Narendra Modi on Monday met business leaders from Japan ahead of the Quad leaders' summit wherein he pitched India as the investment destination and urged the industry heavyweights to explore opportunities in areas such as smart cities and emerging technologies.

Among those whom the Prime Minister met was Suzuki Motor Corporation Advisor Osamu Suzuki. During their meeting, Prime Minister Modi appreciated Suzuki's transformational role in India's automotive industry. He discussed opportunities in investment, innovation, manufacturing of electric vehicles, and recycling centres in India.

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In the meeting, the two sides discussed opportunities for investment, innovation, manufacturing EVs, and recycling centres in India, MEA spokesperson Arindam Bagchi said.

Emerging from the meeting, Osamu Suzuki said, "Reforms undertaken by Prime Minister Modi are indescribable. He is bringing reforms that are changing India into a model landscape."

In March this year, Suzuki Motor Corporation announced that it would invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and batteries in Gujarat.

Suzuki Motor Gujarat Pvt Ltd has announced that it would invest Rs 7,300 crore for the construction of a plant for BEV batteries on land neighbouring SMG's existing plant by 2026. Besides, SMG will invest another Rs 3,100 crore for increasing production capacity for BEV manufacturing by 2025.

'PM Modi is committed to the success of India'

Earlier, the Prime Minister also met Masayoshi Son, the founder of SoftBank. Their discussions centred around Softbank's future participation in India in technology, energy, finance, research and development, etc.

Following his meeting, Masayoshi Son said: "India is growing very quickly. New startups are coming up every day and unicorns coming very rapidly. India's future is bright. Prime Minister Modi is committed to the success of India. His government is supporting startups and making it the centre of high technology."

'PM Modi has strong intention to build and enhance capabilities'

PM Modi also held talks with Nobuhiro Endo, the chairman of NEC Corporation during which the latter spoke about opportunities in India in areas such as smart cities, emerging technologies and an innovative effort to encourage learning of Japanese in India.

In his remarks, Prime Minister Modi appreciated NEC's role in India's telecommunication sector and discussed opportunities in new and emerging technologies in India.

"PM Modi has a strong intention to build and enhance capabilities," Endo said after his meeting with the Indian Prime Minister.

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