Prime Minister Narendra Modi on Wednesday said the government is “changing the DNA of India’s economy”, citing a series of reforms aimed at improving governance and the ease of doing business. He was speaking at an India–Japan economic conference held in Delhi.
During the event, the prime ministers of India and Japan jointly inaugurated Maruti Suzuki’s fourth vehicle manufacturing plant in Kharkhoda, Haryana. Modi noted that several companies have maintained long-standing ties with India, with some relationships spanning over a century.
Highlighting India–Japan economic cooperation, Modi said two out of every three Suzuki cars are manufactured in India and exported to more than 100 countries. He added that Japan’s expertise and investment, combined with India’s speed and scale, can benefit the wider world.
Modi said the global economy is facing headwinds due to weak international consumption, trade uncertainty and supply-chain disruptions. He pointed to India’s position as the fastest-growing major economy and said the country recorded 7.7% overall growth in the last financial year.
He said next-generation reforms in taxation, administration and business facilitation have been introduced in recent months, with private participation allowed across sectors and incentives offered in key areas. Modi also said he and Japanese Prime Minister Takaychi have agreed to strengthen cooperation in economic security, AI, defence and health, and set a goal of ensuring Japan’s investment in India reaches 10 trillion yen over the next decade while doubling the number of Japanese companies operating in the country.
