New Delhi: Japanese Prime Minister Sanae Takaichi on July 2, Thursday announced 129 private sector cooperation agreements between Japan and India involving investments exceeding JPY 2 trillion while declaring a joint development of a green ammonia production project with an annual capacity of approximately 400,000 tonnes. Japanese PM Takaichi attended the India-Japan Joint Economic Forum along with PM Narendra Modi, where they also visited an exhibition showcasing bilateral economic and technological cooperation.
Addressing the India-Japan Joint Economic Forum as part of her three-day official visit to the country, Takaichi described these announcements as a new milestone in bilateral energy security cooperation, while noting that the green ammonia project would become “a symbol of a new chapter in energy security cooperation” between the two countries.
My remarks during the India-Japan Joint Economic Forum. https://t.co/dhFvUo0YET
— Narendra Modi (@narendramodi) July 2, 2026
“Japanese and Indian companies will jointly advance a green ammonia production project with an annual capacity of approximately 400,000 tonnes. I sincerely hope that this project will become a symbol of a new chapter in energy security cooperation between our two countries”, Japanese PM said.
“Our cooperation is no longer confined to the energy sector alone. The scope of this partnership continues to expand and the range of stakeholders involved is becoming increasingly diverse, encompassing startups as well as small and medium-sized enterprises. On this occasion, we are pleased to announce approximately 129 private sector cooperation agreements. Together with this, investments exceeding JPY 2 trillion”, the Japanese PM further reiterated.
Takaichi said energy security remains one of the most important pillars of India-Japan cooperation. Referring to the recent G7 Summit last month, she said Japan has proposed strengthening global energy security through free and transparent energy trade, enhanced strategic energy stockpiles and closer cooperation between energy-producing and energy-consuming countries. She said that under Japan’s Power Asia initiative, the two countries would expand cooperation in new areas, including enhanced petroleum stockpiling, to strengthen regional energy security.
Takaichi also said an increasing number of Japanese companies are using India as a base to expand their presence in Africa. Under the framework of the Free and Open Indo-Pacific (FOIP), she said Japan and India would extend this model of growth to countries across the Global South, including Africa, Asia and Latin America.
PM @narendramodi and PM @takaichi_sanae addressed the India-Japan Joint Economic Forum today. Both sides reaffirmed the pivotal role of industry in advancing the Special Strategic and Global Partnership.
Discussions focused on expanding investment, strengthening resilient… pic.twitter.com/CC5IaxsxGz
— Randhir Jaiswal (@MEAIndia) July 2, 2026
Japan Business Week: A catalyst to enhance ease of doing business
Prime Minister Narendra Modi announced a Japan Business Week to enhance ease of doing business in India and hailed the country’s vehicle manufacturing and export ability. At the India-Japan Joint Economic Forum, Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi also inaugurated Maruti Suzuki’s 4th Vehicle Manufacturing Facility at Kharkhoda in Haryana.
Addressing the India-Japan Joint Economic Forum, PM Modi said that the Centre is “opening every sector to the private sector” by providing incentives; as a result, he said, India has been the Most Promising Destination for Japanese businesses as per the survey of the Japan Bank for International Cooperation”.
The Prime Minister said, “Recently, we did next-gen reforms in taxation, governance and ease of doing business. We are opening every sector to the private sector, and in many sectors, we are providing incentives and I believe you too can benefit from them. For this very reason, for the last four years in a row, the survey of the Japan Bank for International Cooperation shows that India has been the Most Promising Destination for Japanese businesses”.
“Today, I want to share with all of you that my office, that is, the PMO, will organise a dedicated Japan Business Week. In this, senior officers of the PMO will engage in discussions with you. They will discuss openly with you to understand your problems and to enhance the ease of doing business”, he added. Further, he hailed the growth in India’s vehicle manufacturing, leading to improved economic ties with Japanese firms.
PM Narendra Modi said, “Several companies here have had ties with India for a long time now, some for more than 100 years. I extend my heartiest greetings to the new friends joining this forum for being a part of the India-Japan success story. India and Japan share special ties. There are several bright examples of the success of our economic partnership. We inaugurated Maruti Suzuki’s Vehicle Manufacturing Facility at Kharkhoda in Haryana. Today, two-thirds of Suzuki’s cars worldwide are made in India and are being exported to over 100 countries”.
“I have been told that PM Takaichi is fond of motorbikes. We are delighted that Yamaha, Kawasaki and Honda bikes are exported across the globe from India. Similarly, air conditioners, power grid equipment, precision manufacturing or medical technology; when Japan’s expertise and investment combine with India’s speed and scale, the entire world benefits”, the PM added.
(With Inputs from ANI)
