Gandhinagar (Gujarat) [India], January 10 : The inauguration day of the Vibrant Gujarat Global Summit 2024 resonated with a message of deepening economic collaboration as Hosaka Shin, for InterVice Ministernational Affairs at the Ministry of Economy, Trade and Industry, Japan, took the stage.
Vice Minister Shin reiterated the special strategic partnership between India and Japan, highlighting the significant investments made by Japanese corporations in India.
Shin said, "India and Japan are special strategic global partners. Up to this point, Japanese corporations have continued to invest in India, with a cumulative amount of investment between 2000 and 2023 reaching 38.3 billion dollars. This amount is second in the world."
His address focused on the substantial economic cooperation, with Japanese corporations having made remarkable investments in India.
The Vice Minister's announcement signifies Japan's commitment to fostering stronger economic ties with India.
The cumulative investment figure stands as a testament to the confidence Japanese corporations have placed in the Indian market.
This economic collaboration extends across various sectors, reflecting the diversification of investments over the years.
As the Vibrant Gujarat Global Summit serves as a platform for nations to explore and strengthen economic ties, Vice Minister Shin's remarks highlight the special nature of the partnership between India and Japan.
The commitment to continued investment reinforces the strategic importance both nations place on each other in the global economic landscape.
Earlier, President of Suzuki Motors, Toshihiro Suzuki, expressed his honour at being invited to the Vibrant Gujarat Global Summit 2024 and lauded the remarkable growth of the Indian automobile market in the past decade.
Acknowledging the strong leadership and unwavering support of Prime Minister Modi, Suzuki emphasized that India has now secured its position as the third-largest automobile market globally.
During his address at the summit, President Toshihiro Suzuki announced Suzuki Motors' groundbreaking venture into the electric vehicle (EV) market.
He said, "I am honoured to be invited to this ceremony. In the past 10 years, under the strong leadership and constant support of PM Modi, the Indian automobile market has been expanding steadily. As a result, India has become the third-largest automobile market in the world. Suzuki has also scaled up production capacity substantially in India."
Highlighting the international scope of their EV initiative, Suzuki outlined plans to export the new model not only to the Indian market but also to Japan and European counter.
The collaborative efforts between India and Japan are not only a reflection of shared economic interests but also a demonstration of the trust and friendship that have flourished over the years.
Vice Minister Hosaka Shin's address sets a positive tone for the summit, emphasizing the potential for further growth and collaboration between the two nations in the coming years.
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