PM Modi discuss 5G, self-reliant campaign, and new technologies with top Japanese companies

Tokyo, May 23: In order to strengthen the business industry in various sectors in India, PM Narendra Modi on Monday met top business leaders and discussed different matters that can prove beneficial for India.

 

PM Modi, who is on two-day Japan visit, met several Japanese business leaders including Dr. Nobuhiro Endo, Chairman, NEC Corporation; Tadashi Yanai, Chairman, President & CEO, Fast Retailing Co. Ltd; Osamu Suzuki, Senior Advisor, Suzuki Motor Corporation and Masayoshi Son, Board Director and Founder, Softbank Corporation.

 

 

In a meeting with NEC Corporation chairman, PM Modi met Dr. Nobuhiro Endo, Chairman, NEC Corporation. He appreciated NEC’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. 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.

 

 

In his meeting with the CEO of Fast Retailing, the parent company of Uniqlo, Tadashi Yanai in Tokyo, PM Modi 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. He invited Uniqlo’s enhanced participation in India’s journey to becoming a manufacturing hub for textiles, particularly the use of technologies in textile manufacturing. Prime Minister also invited Uniqlo to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector.

 

 

 

During the meeting, Prime Minister recalled Mr. 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).

 

 

Later, PM Modi 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.