PM Modi met with business leaders of NEC, SoftBank, Suzuki, and Fast Retailing

Prime Minister Narendra Modi met with prominent Japanese business leaders in Tokyo on Monday during his visit to Japan to participate in the Quad Leaders' Summit.

In a series of meetings, he met Chairman of NEC Corporation Nobuhiro Endo; Chairman, President & CEO of Fast Retailing Co. Ltd. Tadashi Yanai; Senior Advisor of Suzuki Motor Corporation Osamu Suzuki; and Board Director and Founder of Softbank Corporation Masayoshi Son.

During his meeting with Chairman, NEC Corporation Nobuhiro Endo, PM Modi praised NEC's contribution to India's telecommunications sector, especially in undertaking Chennai-Andaman & Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects. He also highlighted investment opportunities under Production Linked Incentive (PLI) scheme, the Prime Minister's Office (PMO) said.

They discussed various reforms being undertaken to enable ease of doing business in India including in industrial development, taxation and labour. They also discussed opportunities in India in new and emerging technologies.

After this, he met with Chairman, President, and CEO of Fast Retailing Co. Ltd. (the parent company of Uniqlo) Tadashi Yanai.

During the meeting, they both addressed the fast-increasing textile and clothing industries in India and reviewed several possible future reforms in the areas of industrial development, infrastructure, taxes, and labour to make it easier for foreign investors to conduct business in India.

According to the PMO, Prime Minister Modi also encouraged Uniqlo to play a larger role in India's efforts to become a textile manufacturing powerhouse, particularly in terms of technology adoption. Uniqlo was also asked to participate in the PM-Mitra project, which aims to develop the textile sector.

Following that, PM Modi met with Osamu Suzuki, Suzuki Motor Corporation's Senior Advisor. During the meeting, he acknowledged Suzuki's involvement and contributions in India, praised Suzuki Motors' transformative role in the Indian automotive sector, and discussed investment potential in India, the PMO said.

They also spoke on ways to strengthen India's domestic innovation system, such as skill development through the Japan-India Institutes of Manufacturing (JIM) and Japanese Endowed Courses (JEC).

PM Modi also met Board Director and Founder, Softbank Corporation Masayoshi Son and expressed his appreciation for Softbank's participation in India's startup industry.

They talked about Softbank's future plans in India in sectors including technology, energy, and finance and reviewed the many future changes to make India a business-friendly country, the PMO said.

Later, PM Modi also attended the launch ceremony for the Indo-Pacific Economic Framework hosted by US President Joe Biden.

Prime Minister Modi is visiting Tokyo at the invitation of Japan’s Prime Minister Fumio Kishida.

In addition to participating in the 2nd in-person Quad Leaders' Summit, he will also hold separate bilateral meetings with US President Joe Biden, Japanese PM Kishida and Australian PM-elect Anthony Albanese.