Indian Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba met in Tokyo on Friday, agreeing to strengthen economic, security, and clean energy ties as both countries face common challenges, including China’s expanding influence and U.S. trade barriers.
At the summit, the two leaders set a target of boosting Japanese private investment in India to roughly $6.8 billion annually over the next decade. That figure would represent a sharp rise from the average of $2.7 billion per year in the 2010s. They also committed to deepening people-to-people links by expanding the exchange of workers and students to 500,000 over the next five years. Japan hopes India’s young workforce can help alleviate its labor shortages, a consequence of its rapidly aging and shrinking population.
“We believe that Japanese technology and Indian talent are a winning combination,” Modi said at a joint news conference.
The leaders issued a “joint vision” outlining cooperation over the next decade in defense, security, space, technology, and renewable energy. In addition, they signed 11 agreements covering areas such as clean energy transition and industrial collaboration.
“As two of the world’s largest economies and strongest democracies, our partnership is essential not only for our countries but also for global peace and stability,” Modi emphasized.
Ishiba echoed the sentiment, stressing the importance of combining strengths. “We must take advantage of each other’s capabilities, develop solutions to shared challenges, and support one another,” he said.
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On Sunday, Ishiba is scheduled to accompany Modi on a bullet train to Sendai, where they will tour a factory producing semiconductor manufacturing equipment. Modi will then continue his Asia tour with a visit to China.
For Ishiba, the summit carried added political weight. He faces mounting pressure from rivals in his party to resign after his ruling coalition lost its majority in Japan’s upper house elections in July. Diplomatic achievements are seen as critical to bolstering his public standing.
The India-Japan summit came just days after Modi met with Chinese Foreign Minister Wang Yi, highlighting efforts by New Delhi and Beijing to stabilize relations after years of border disputes in the Himalayas.