'Reform, perform and transform': PM Modi explains what is driving change in India

Prime Minister Narendra Modi, who is in Japan for a two-day visit, claimed that India now has political stability, economic stability, transparency in policy, and predictability.

Speaking at the India-Japan Economic Forum in Tokyo, Modi said India, which is currently the fastest-growing major economy in the world, will very soon become the third-largest economy in the world.

According to the PM, the reasons for this change are the government's approach of "reform, perform and transform."

The prime minister highlighted how India is opening the nuclear energy sector for the private sector, after opening the defence and space sectors.

"The world is not just watching India, it is counting on India," the prime minister said.

Modi, who is set to hold wide-ranging discussions with Japanese Prime Minister Shigeru Ishiba on Friday evening to advance the India-Japan partnership, including AI and semiconductors, said India has taken bold and ambitious initiatives in AI, semiconductor, quantum computing, biotech, and space.

"The technology of Japan and the talent of India can together lead the tech revolution of this century....India and Japan have signed an agreement on joint credit mechanism for cooperation on clean fuel and green future," the PM said.

Japan’s excellence and India’s scale can create a perfect partnership, Modi added.

Modi observed that the partnership between India and Japan is strategic and smart. "Powered by economic logic, we have turned shared interests into shared prosperity. India is the springboard for Japanese business to the Global South. Together, we will shape the Asian century for stability, growth and prosperity," he added.

According to the PM, from metro to manufacturing, from semiconductors to start-ups, India-Japan partnership in every sector became symbol of mutual trust.