Prime Minister Narendra Modi on Thursday said that India has transformed its economic DNA over the past 12 years by embracing the Japanese philosophy of Kaizen, or continuous improvement, while highlighting the country’s emergence as one of the world’s most attractive investment destinations for Japanese businesses.
Addressing the India-Japan Joint Economic Forum in New Delhi, the Prime Minister said India remains the world’s fastest-growing major economy, recording a GDP growth rate of 7.7 per cent in the last financial year. He noted that sustained reforms and a commitment to continuous improvement have strengthened the country’s economic foundation and enhanced its global competitiveness.
PM Modi said the government’s reform agenda has focused on improving governance, simplifying taxation, and enhancing the ease of doing business. He added that India has introduced next-generation reforms while opening more sectors to private participation and providing targeted incentives to encourage domestic and foreign investments.
Highlighting opportunities for Japanese businesses, the Prime Minister said several sectors are benefiting from government incentive schemes, creating new avenues for investment, technology partnerships, and industrial collaboration in India.
Referring to the annual survey conducted by the Japan Bank for International Cooperation, PM Modi said India has been ranked as the most promising destination for Japanese businesses for four consecutive years, reflecting growing investor confidence in the country’s economic potential.
The Prime Minister also underscored the strategic partnership between India and Japan, stating that both countries have agreed to expand cooperation in critical areas including economic security, artificial intelligence, defence, healthcare, and advanced technologies. He said these initiatives would make bilateral ties more future-oriented and strengthen long-term collaboration.
Calling on industry leaders from both nations, PM Modi urged businesses to convert the strong policy framework and strategic alignment between the two governments into meaningful investments, innovation, and economic outcomes that would further deepen the India-Japan partnership.
