India and Japan have announced a joint initiative to mobilise ¥10 trillion in Japanese investments in India over the next ten years. This announcement was made during the 16th India-Japan Annual Summit held in New Delhi on July 2, 2026, where both nations sought to deepen their economic and strategic relationships.

During a press conference, Indian Prime Minister Narendra Modi and Japanese Prime Minister Sanae Takaichi highlighted the growing momentum in their investment partnership. PM Modi noted that approximately 120 new business agreements were signed over the past year, translating into an estimated commitment of around $10 billion in Japanese investments in India.

Modi emphasised the importance of the India-Japan Investment Partnership, stating that reforms in India have significantly improved the ease of doing business, which will be beneficial for Japanese enterprises. He reiterated the goal of not only achieving the ¥10 trillion investment target but also doubling the number of Japanese companies operating in India.

Joint Roadmap for Energy Security and Economic Cooperation

The two nations have developed a joint roadmap focusing on energy security and economic stability, aiming to address global uncertainties that impact both countries. PM Modi noted that this collaboration will enhance supply chain resilience in crucial sectors, including semiconductors and advanced materials.

In addition to the focus on economic security, Modi mentioned that important decisions regarding energy resilience were made during this summit. He referred to initiatives aimed at tackling challenges such as oil supply shocks and highlighted the collaborative efforts in clean energy sectors like battery technology and green hydrogen.

Moreover, Modi articulated that both countries share a vision concerning economic security as a facet of shared security. The joint efforts in energy transition are seen as a mutual opportunity that both India and Japan are keen to realise.

Key Outcomes and Future Directions

During her remarks, Prime Minister Takaichi also addressed the bilateral cooperation, asserting that discussions had centred on enhancing economic and energy security. She underscored the need for both nations to build resilience in critical mineral supply chains amid challenges like economic weaponisation and non-market practices.

Takaichi informed the press that a public and private sector collaborative statement has been issued, aiming for actionable steps in economic security cooperation. She expressed Japan’s commitment to co-create growth through innovative investments in key sectors, reflecting shared aspirations for mutual economic prosperity.

As part of the formal engagements, Takaichi was ceremoniously welcomed at Rashtrapati Bhavan before the summit discussions commenced. The Indian delegation included prominent figures such as External Affairs Minister S. Jaishankar and National Security Adviser Ajit Doval, alongside other high-ranking officials.

This summit marks a continuation of the strategic dialogue initiated during PM Modi’s visit to Japan in August 2022 for the previous Annual Summit. The Annual Summit serves as the principal framework for advancing the strategic partnership between India and Japan.

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