PM Modi said that India has been transforming its economic DNA over the past 12 years by following the philosophy of 'Kaizen', the Japanese principle of continuous improvement, as he pitched the country as an attractive destination for Japanese businesses and investors

He also noted that India is currently the world's fastest-growing major economy, with GDP growth of 7.7 per cent in the last financial year. 

"India is the world's fastest-growing major economy. India's GDP growth was 7.7 per cent in the last financial year," he said. "Over the last 12 years, we have been transforming our economic DNA by pursuing the philosophy of Kaizen, i.e. continuous improvement in India," PM Modi added

In her address to the India-Japan Joint Economic Forum in New Delhi this evening, PM Takaichi announced 129 private sector cooperation agreements between Japan and India involving investments exceeding JPY 2 trillion while declaring a joint development of a green ammonia production project with an annual capacity of approximately 400,000 tonnes

She described these announcements as a new milestone in bilateral energy security cooperation, while noting that the green ammonia project would become "a symbol of a new chapter in energy security cooperation" between the two countries. "Japanese and Indian companies will jointly advance a green ammonia production project with an annual capacity of approximately 400,000 tonnes. I sincerely hope that this project will become a symbol of a new chapter in energy security cooperation between our two countries," she said

Representatives from Japan's academia and industry on Thursday welcomed Japanese PM Takaichi's first official visit to India, which they said will strengthen the bilateral collaboration in education, technology, investment, and healthcare while opening new avenues for innovation and business between the two countries.