Tokyo: Prime Minister Narendra Modi will embark on a two-day visit to Japan on Thursday to attend the 15th India-Japan Annual Summit with his counterpart, Prime Minister Shigeru Ishiba. The meeting, scheduled for August 29 and 30, is set to mark a milestone in bilateral relations as Tokyo unveils an ambitious $68 billion investment roadmap for India over the next decade.
The investment programme, described as one of Japan’s largest economic commitments to India, will focus on strategic sectors including semiconductors, pharmaceuticals, clean energy, and advanced manufacturing. The two nations will also launch a new Economic Security Initiative aimed at securing critical material supplies and protecting essential infrastructure from global disruptions.
Over the past two years, the India-Japan partnership has gained remarkable momentum, with more than 170 Memorandums of Understanding worth over USD 13 billion signed across industries ranging from steel and automotive to renewable energy and aerospace. These collaborations underline Japan’s confidence in India’s growth trajectory and its pivotal role in reshaping global supply chains.
Projects already underway reflect this wide spectrum of cooperation. Nippon Steel has committed massive expansions in Gujarat and Andhra Pradesh, while Suzuki Motor is advancing large-scale investments in new plants in Gujarat and production expansions elsewhere. Toyota Kirloskar is enhancing its footprint in Karnataka and Maharashtra with fresh projects worth hundreds of billions of rupees. In real estate, Sumitomo Realty has entered with $4.76 billion, while JFE Steel is reinforcing India’s electrical steel production capabilities. Significantly, Astroscale marked the first Japanese commercial satellite launch through ISRO’s PSLV programme, showcasing synergy in space technology.
Beyond urban industries, Japanese collaboration is also reshaping India’s rural economy. Through joint green energy projects, such as Sojitz Corporation’s biogas partnership with Indian Oil, farmers are gaining fresh income streams from crop residues while supporting the nation’s clean energy shift. Similarly, Suzuki Motor Corporation’s collaboration with the National Dairy Development Board in Gujarat will establish biogas facilities converting cow dung into eco-friendly fuel, directly cutting emissions and creating local jobs.
The partnership is not only about capital but also about people. Under the India-Japan Talent Bridge Programme, more than 50,000 Indians and Japanese have exchanged expertise through education, internships, and professional exchanges in just five years. Japan’s Fujitsu has already recruited 9,000 Indian engineers for its Global Capability Centre, while Indian SMEs are being pulled into global supply chains through collaborations with Tokyo Electron, Fujifilm, and Tata Electronics in the semiconductor space.
Export potential is also set to grow. Nippon Steel’s speciality products will serve auto and energy markets abroad, while hybrid and electric vehicles manufactured in India by Toyota and Suzuki are expected to reach customers in Africa, Southeast Asia, and the Middle East.
With “Make in India, Make for the World” as its guiding vision, the India-Japan partnership is no longer confined to bilateral cooperation it is setting the stage for a regional and global economic transformation. Prime Minister Modi’s Tokyo visit is expected to not only strengthen trust and collaboration but also define the next chapter in Asia’s economic leadership story.