Japan to Double Investment Target During PM Modi’s Visit

Japan is set to double its investment commitment for India during Prime Minister Narendra Modi’s visit on August 29–30, with new agreements spanning defence, technology, and economic cooperation.
The visit will begin in Tokyo, where Modi will hold the annual summit with Japanese Prime Minister Shigeru Ishiba and address a business forum. On the following day, both leaders will travel by Shinkansen to Sendai to visit a semiconductor facility and meet regional governors.
Japan’s earlier target of 5 trillion yen ($34 billion), pledged in 2022, was achieved two years ahead of schedule, prompting Tokyo to expand the figure further. The planned increase underscores Japan’s confidence in India’s economic prospects, with recent projects such as ArcelorMittal Nippon Steel’s new mill in Andhra Pradesh and Toyota’s facility in Aurangabad highlighting the momentum.
Beyond investments, both sides are expected to finalise at least five agreements covering defence and security, economy, technology and innovation, and mobility. Defence cooperation will expand beyond the 2008 Declaration on Security Cooperation to include exercises, technology transfers, and co-development projects for advanced systems.
Economic security will also be a major focus, with initiatives on semiconductors, rare earth supply chains, AI, telecommunications, and digital infrastructure. In addition, a new mobility framework will enable more skilled Indian professionals to work in Japan, helping address its labour shortages.
Space and naval cooperation are also on the agenda, with joint efforts on the Lunar Polar Exploration Mission (LUPEX) and discussions on ship maintenance collaborations. Modi’s visit is expected to reinforce the partnership’s role in advancing stability and growth in the Indo-Pacific region.