India, Japan target 10 trillion yen investment in next 10 years, deepen strategic ties

India and Japan on Thursday set an ambitious target of mobilising 10 trillion yen in Japanese investment into India over the next decade while unveiling a joint roadmap to strengthen cooperation in semiconductors, quantum technology, clean energy and resilient supply chains.

Addressing a joint press conference after the 16th India-Japan Annual Summit in New Delhi, Prime Minister Narendra Modi said the investment partnership between the two countries was gaining momentum, with 120 new business agreements signed over the past year and Japanese investments worth around $10 billion committed to India.

"In today's uncertain times, energy security and economic security have become more important than ever. We have prepared a joint roadmap to strengthen cooperation in semiconductors, quantum technology and supply chain resilience," Modi said.

The two leaders also launched the India-Japan Biogas Initiative under the Govardhan Pahal, aimed at setting up biogas plants across India to promote sustainability, rural livelihoods and the circular economy.

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Calling Japanese Prime Minister Sanae Takaichi his "younger sister," Modi said her first visit to India as Prime Minister marks "a new chapter" in the India-Japan Special Strategic and Global Partnership. The two sides agreed to further deepen cooperation across trade, technology, clean energy and strategic sectors amid growing global economic and geopolitical uncertainties.