SEPTEMBER 20258INDIA AND JAPAN TRADE BASKET SET TO EXPAND WITH FRESH PUSH, SAYS MODIOPTIEMUS OPENS INDIA'S FIRST TEMPERED GLASS PLANT IN NOIDAPrime Minister Narendra Modi has pointed out the need to try hard to grow and even out the trade between India and Japan, while also looking for new ways to work together on money matters. In a talk with The Yomiuri Shimbun, he shared that working well between their governments, businesses, and people can make both countries growing fast and stand out.Optiemus Infracom has inaugurated the first tempered glass manufacturing facility in India, located in Noida, Uttar Pradesh, utilizing Engineered by Corning technology.The facility was officially opened by Ashwini Vaishnaw, the Union Minister for Electronics & IT, I&B, and Railways. This achievement enhances India's electronics manufacturing ecosystem and is in line with the 'Make in India' initiative.Japan has been a key ally in building up India's big projects and keeps giving a lot of money in cars, electronics, telecom, chemicals, money work, and meds. Now, close to 1,500 Japanese companies are set up in India, and more than 400 Indian firms are in Japan.While seeing good things from the CEPA, Modi said trade between the two has not reached where it could be. He thinks that Japan, which was very important in building up India before, will be key in new making, ideas, and global trade ways in this century.Talking about computer chips, the Prime Minister celebrated India's growth with six spots already building and more to come. He asked Japanese companies to use their smart ways in tech to help make India's computer chip work better, calling it a key part of future work together.Changes to make making things easier have also pushed Japanese companies to see India as a world spot for making stuff. This push was even stronger when Suzuki Motor Corporation said they would put 70,000 crore in India in the next six years, to make more and start new types, including electric cars. India's electronics manufacturing reached 11.7 lakh crore in FY24-25, positioning the nation as the second-largest mobile producer globally. With a starting investment of 70 crore, Optiemus' facility is set to achieve an annual production capacity of 25 million units in Phase 1, resulting in the creation of over 600 direct employment opportunities. Phase 2 will enhance the capacity to 200 million units with an extra investment of 800 crore, leading to the generation of 4,500 jobs and serving both local and international markets.During the inauguration, Shri Vaishnaw remarked that the facility underscores India's increasing capabilities in advanced manufacturing. He stressed the necessity for Indian companies to create robust, high-quality products to remain competitive on a global scale and reaffirmed the government's ambition to establish a $500 billion electronics manufacturing ecosystem.The tempered glass sector presents considerable prospects, with India's internal market projected to exceed 500 million units each year, valued at 20,000 crore, whereas the worldwide market is estimated at $60 billion. Optiemus intends to establish India as a dependable supplier of high-quality tempered glass, thereby decreasing reliance on imports. TOP STORIESTOP STORIESTOP STORIES
< Page 7 | Page 9 >