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AI, minerals, semiconductor deals on cards as PM visits Japan; Modi may secure investment pledges worth $68 billion

Prime Minister Narendra Modi is on a two-day visit to Tokyo, Japan, aimed at strengthening economic and investment ties, particularly focusing on emerging technologies such as artificial intelligence and semiconductors

Prime Minister Narendra Modi, who arrived in Tokyo on Friday, is expected to have talks on advancing economic and investment ties between India and Japan, with particular focus on emerging technologies, including AI and semiconductors.

Modi will be in Japan on Friday and Saturday. During his stay, he will also visit a semiconductor factory.  

"As India and Japan continue to strengthen their developmental cooperation, I look forward to engaging with PM Ishiba and others during this visit, thus providing an opportunity to deepen existing partnerships and explore new avenues of collaboration," Modi said in a tweet after arriving in Tokyo.

The ministry of external affairs said PM Modi will hold wide-ranging discussions with his Japanese counterpart, Shigeru Ishiba, to advance the India-Japan partnership.

In his departure statement, Prime Minister Modi said his visit to Japan will be an opportunity to strengthen civilisational bonds and cultural ties between the two countries.

"We would focus on shaping the next phase in our Special Strategic and Global Partnership, which has made steady and significant progress over the past 11 years," Modi said.

"...I will also be travelling to Sendai to visit a semiconductor factory, thus highlighting the futuristic dimension of our cooperation in areas like emerging technologies, AI and semiconductors," the PM said in another tweet.

The statement further said the two countries would endeavour to give new wings to the collaboration, expand the scope and ambition of the economic and investment relations, and further cooperation in new and emerging technologies.

During his visit, Modi will also meet with the governors of Japan's prefectures.

A Bloomberg claimed that Modi is expected to secure investment pledges worth about $68 billion during his visit. Quoting sources, the report further said India and Japan may sign an economic security pact that will cover cooperation on critical minerals, apart from AI and semiconductors.

From Japan, the PM will travel to China to attend the Shanghai Cooperation Organisation Summit in Tianjin, at the invitation of President Xi Jinping.

"I am confident that my visits to Japan and China would further our national interests and priorities, and contribute to building fruitful cooperation in advancing regional and global peace, security, and sustainable development," the departure statement further said.