The 'Make in India' initiative has become a movement in Japan, PM Modi said.
Addressing the
India-Japan Business Leaders Forum in New Delhi, Prime Minister Narendra Modi today said the 'Make in India' initiative was proceeding in "mission mode" not just in India, but also in Japan and announced that in a first, the country
will import cars made in India."Maruti (Suzuki) will manufacture here... Japanese company will manufacture here and export it to Japan," he said, adding that both India and Japan should move ahead together, not just in the sphere of
high-speed trains, but also for "high-speed growth."He also said the 'Make in India' initiative has become a movement in Japan and added that the island nation has created a fund of about $12 billion for it.
"Today, there is a 'Make In India' movement in Japan. I have been told that $11-12 billion fund has been earmarked for it. This clearly indicates how both the countries can move forward," he said.
Recalling his last visit to Japan, PM Modi said Japan committed an investment of $35 billion. "The figure had surprised many at that time, but today, within a short time-span, unimaginable progress had been made, and the contours of this investment were beginning to get visible on the ground," he said.
Highlighting the improvement in economic indicators in both India and Japan, he said these were extremely encouraging, especially in the light of the global economic slowdown.
"It is clear that India is a land of possibilities," he added.
Praising PM Modi's reforms programme, Japanese Prime Minister Shinzo Abe said, "Prime Minister Modi's speed of implementing policies and reforms is like Shinkansen (bullet train) and his reform agenda is as safe as Shinkansen."