PM Modi said in Japan: In India, capital does not just grow, it multiplies

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Prime Minister Narendra Modi, while addressing the India-Japan Economic Forum in Tokyo on Friday, said that capital does not just grow in India, but multiplies.

He said that the investment of foreign companies is constantly increasing and due to economic reforms, India has become a country with a fast growing economy today.

Modi said, "According to JETRO (Japan External Trade Organization), 80 percent of the companies want to expand in India and 75 percent of the companies are making profits. Capital does not just grow in India, but grows manifold."

He said that with political and economic stability, India is soon going to become the third largest economy of the world. The world is not only looking at India, but is also trusting India.

Japan a key partner in India’s growth journey

PM said Japan has always been a key partner in India’s growth journey. Whether it’s metros, manufacturing, semiconductors, or start-ups, our partnership in every area reflects mutual trust.

Japanese companies have invested more than $40 billion in India. In the last two years alone, there has been private investment of $13 billion. JBIC says India is the most 'promising' destination.

PM said you are all familiar with the remarkable changes India has experienced in the last eleven years. Today, we have political and economic stability, and clear and predictable policies. India is now the fastest-growing major economy in the world, and very soon, it will become the world’s third-largest economy.

India is contributing to 18% of global growth

India is contributing to 18% of global growth. The country’s capital markets are giving good returns, and we have a strong banking sector. Inflation and interest rates are low, and foreign exchange reserves stand at around $700 billion.

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

India is the springboard for Japanese businesses to the Global South. Together, we will shape the Asian Century for stability, growth, and prosperity.

Prime Minister Modi reached Tokyo on Friday morning. During this two-day visit, he will attend the 15th India-Japan Annual Summit and will hold talks with Prime Minister Shigeru Ishiba.

After his visit to Japan, Modi will visit China's Tianjin on August 31 where he will attend the Shanghai Cooperation Organization (SCO) summit. 

Prakash Kumar Pandey

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