Indian Prime Minister Narendra Modi arrived in Japan yesterday for a two-day summit where he was scheduled to meet with Japanese Prime Minister Shigeru Ishiba and secure investment pledges from Japan of more than ￥10 trillion (US$68 billion), people familiar with the matter said.
The trip takes on added weight in light of the US tariffs, as by deepening defense, technology and investment ties with Japan, India signals it can cushion the blow of lost US market access.
The two sides were also expected to sign an economic security pact covering cooperation on semiconductors, critical minerals and artificial intelligence, officials in New Delhi said, asking not to be identified to discuss matters that are still private.
Photo: Bloomberg
The two nations are partners “made for each other,” Modi said this week, after visiting a Suzuki plant in India.
The leaders are expected to discuss tie-ups on critical minerals and Japanese investments in high-value manufacturing in India, the officials said.
India is believed to hold substantial deposits of rare earths — used in everything from smartphones to solar panels — but lacks the technology to mine and process them extensively.
The two sides are also expected to step up plans on defense cooperation, with New Delhi focusing on transfer of technology and jointly developing military hardware, the people said.
India and Japan are working to develop a sophisticated sensor for seamless communication while increasing the stealth features of warships.
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