Economies of India and Japan are complementary: PM Modi

Prime Minister Narendra Modi and his Japanese counterpart, Prime Minister Sanae Takaichi, on Thursday elevated the India-Japan Special Strategic and Global Partnership with a series of landmark agreements spanning defence, artificial intelligence (AI), economic security, clean energy and emerging technologies, including the signing of the first-ever co-development project in the defence sector between the two countries. Addressing a joint press statement after the 16th India-Japan Annual Summit in New Delhi, PM Modi described Japan as one of India’s most trusted partners and said the two nations were entering a “new chapter” in their bilateral relationship.
PM Modi stated that the convergence of Japan’s precision technology and India’s software capabilities will give new momentum and strength to global AI development. He informed that in the field of Defence today, both nations have signed an agreement on the first co-development project between India and Japan.  He stressed that both nations understand the importance of economic security and energy security. He added that technology partnership will be the most important pillar of India-Japan cooperation. Modi said that to realise this vision, India and Japan have issued a Joint Statement in the field of AI. He said that the economies of India and Japan are complementary. He said that there is a similarity in thinking and approach of both nations, from cultural values to modern technology. 

VIDEO | Delhi: “Foundation of India-Japan relations rests on unbreakable mutual trust; economies of India and Japan are complementary”, says PM Modi.

(Source: Third Party)

(Full video available on PTI Videos - https://t.co/n147TvrpG7) pic.twitter.com/M2a0qrERdU

— Press Trust of India (@PTI_News) July 2, 2026

Japanese PM Sanae Takaichi says, "We are launching the Japan India Cooperative Biogas for Growth or CBG initiative that was introduced by Prime Minister Modi. The third is co-creation of economic growth of both India and Japan through investment and innovation collaboration. I am committed to realising a strong economy and aiming to enhance Japan's supply capability and technological capabilities through investment in 17 strategic areas.

#WATCH | Delhi: During press statement with Prime Minister Narendra Modi, Japanese PM Sanae Takaichi says, "We are launching the Japan India Cooperative Biogas for Growth or CBG initiative that was introduced by Prime Minister Modi. The third is co-creation of economic growth of… pic.twitter.com/MrK537fm33

— ANI (@ANI) July 2, 2026

According to the MEA, the summit resulted in the adoption of three landmark documents – the Joint Declaration on Economic Security, the Joint Statement on Cooperation in the Field of Artificial Intelligence, and the Joint Statement on Energy Resilience. The two leaders also witnessed the exchange of several memoranda of understanding and agreements covering economic security, clean energy, critical technologies, and research and development, while agreeing on a calendar of activities to commemorate the 75th anniversary of the establishment of diplomatic relations between India and Japan next year.