Japan’s Prime Minister Shigeru Ishiba praised India’s ambitious push in the semiconductor sector, crediting Prime Minister Narendra Modi’s leadership for steering the nation towards becoming a global hub. Both leaders discussed a new Economic Security Pact, with Japan set to invest over ¥10 trillion in technology and semiconductor growth.
00:00Japan's advanced technology and India's outstanding talent and advanced market complement each other, leading to a dramatic expansion of our economic ties.
00:13Many Japanese companies are playing a key role in make in India, and our cooperation is extending across the Pacific and Indian Ocean, Africa, and even into Europe.
00:27Today, the signing of numerous cooperation documents between our companies demonstrates Japan's firm commitment to further investment in India and strengthening collaboration,
00:42and it is clear evidence that we are steadily building a robot supply chain centered on our two nations.
00:50It is a great honor for me to stand here together with His Excellency Prime Minister Moji at such a moment.
01:03I wish to see our bilateral cooperation develop even further into the future.
01:09To achieve this, I will outline three key initiatives.
01:12First, the promotion of people-to-people exchanges, that is the foundation.
01:17Six years ago, I visited Dalanasi, a city that symbolizes Indian culture.
01:25The people I met there were hardworking and filled with strong hopes for the future, and I was overwhelmed by India's energy for growth.
01:37In my home prefecture of Tottori, together with Shimane Prefecture, the Sun in India Association has been working with local government industries and the Chamber of Commerce in Kerala,
01:54acting as a bridge for human networks between our countries and bringing new vitality to regional revitalization.
02:02I believe that the expansion of such people-to-people exchanges will be the key to enriching the future of both of our nations.
02:15Second, the fusion of technology and markets.
02:19Under Prime Minister Modi's policy of building a self-reliant Indian economy,
02:24Japanese technology has steadily built a record of achievement in sectors that underpin economic foundations.
02:33For example, Japan and India share the goal of seeing the Japanese Shinkansen train run across Indian soil,
02:42and many companies are working together on the construction of the Mumbai Ahmedabad high-speed rail.
02:49Sumitomo Realty and Development is cooperating with the state of government in Mumbai on a stationary development project.
02:58In the automobile sector, a field in which Japan excels, Marichi Suzuki, which entered India 40 years ago, now commands an overwhelming market share.
03:11Suzuki and Toyota are both undertaking major new investments in India.
03:21New initiatives are underway.
03:23One of them is the development of vehicles compatible with biofuels.
03:28Crucial for decarbonization, the introduction of biofuel vehicles will generate significant demand for biofuels
03:36and contributing to the development of rural India.
03:41There is also a move toward the global market.
03:46Suzuki and Isuzu Motors has been developing products in India, and they are delivering 300,000 vehicles.
03:57This powerfully employs a vision of making India for the world.
04:02Finally, cooperation in critical technology sectors such as semiconductors.
04:07Under Prime Minister Modi's leadership in semiconductors, efforts are on the way to develop India into future healthful semiconductor manufacturing and design.
04:17Tokyo Electron, Renesas and Fujifilm, such companies are actively supporting this initiative by investing locally.
04:25In the battery sector, just last month, a delegation of over 30 Japanese companies visited India, and a total of 70 companies from both sides engaged in business matching.
04:40Discussions toward collaborations are already active, and we look forward to further progress.
04:47In addition, in the fields such as AI, space, and clean energy, India-Japan relations are making great strides by leveraging India's growing market.
04:59In an increasingly uncertain global economy, building resilient supply chains with reliable partners and ensuring economic security are essential for further economic development.
05:14Discussions on concrete cooperation are already underway in our industries, and yesterday, JETRO, together with the industries of both countries, announced a joint action plan.
05:29I sincerely hope that such initiatives will be advanced between India and Japan, bound together by unwavering friendship and trust.
05:40As I mentioned, there are large great potential for progress between our countries.
05:47Needless to say, the driving force to turn this potential into reality is all of you in the business community.
05:55Alongside the government of India, the government of Japan will firmly support these steps forward.
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