India and Japan trade basket set to expand with fresh push, says Modi

Prime 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.

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.

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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.