Prime Minister Narendra Modi, who is in Japan for two days to attend the Quad summit, also met the leadership of industry giants such as SoftBank, Suzuki, Fast Retailing, the parent company of Uniqlo, and NEC Corporation.
The Prime Minister met Masayoshi Son, board director and founder of SoftBank Corporation in Tokyo, to appreciate the company’s role in the start-up sector. They discussed the company’s future participation in key areas such as technology, energy and finance.
PM Modi and Son also discussed various reforms that have been undertaken to enable the ease of doing business in India. Specific proposals were shared with SoftBank where it could increase its investments.
The PM also met Osamu Suzuki, Senior Advisor, Suzuki Motor Corporation. He recalled Suzuki’s association and contribution in the country, as well as the transformational role of Suzuki Motors in the automotive industry. 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 also discussed further investment opportunities in India, including the setting up of production facilities for electric vehicles and batteries, as well as recycling centres. Strategies to build the local innovation system, including skill development through Japan-India Institutes of Manufacturing (JIM) and Japanese Endowed Courses (JEC), were also discussed.
PM Modi also met Dr. Nobuhiro Endo, chairman, NEC Corporation and appreciated the corporation’s role in India’s telecommunication sector, especially in the Chennai-Andaman & Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects. Investment opportunities under the Production Linked Incentive (PLI) scheme were also discussed. Reforms that have been undertaken to enable ease of doing business in India including in industrial development, taxation and labour, as well as opportunities in new and emerging technologies were discussed too.
In Tokyo, PM Modi also met Tadashi Yanai, Chairman, President & CEO of Fast Retailing. The rapidly growing textile and apparel market of India and investment opportunities under Production Linked Incentive (PLI) scheme were discussed. Reforms undertaken to enable ease of doing business for foreign investors including in areas of industrial development, infrastructure, taxation and labour were discussed.
Uniqlo’s enhanced participation in India’s journey to become a manufacturing hub for textiles, particularly the use of technologies in textile manufacturing were discussed. PM Modi also invited Uniqlo to take part in the PM-Mitra scheme aimed at strengthening the textiles sector.
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