29 Aug 2025 (Punjab Khabarnama Bureau): Prime Minister Narendra Modi on Friday asserted that India has political and economic stability, transparency in policy, predictability and is on track to become the world’s third-largest economy soon.
PM Narendra Modi’s statement comes two days after the United States doubled its tariffs on Indian goods to as high as 50 per cent, citing New Delhi’s buying of Russian oil – the most punishing rate among US trading partners on a par with Brazil, in a move economists say could hurt growth and jobs.
“Today, India has political stability, economic stability, transparency in policy, and predictability. Today, India is the fastest-growing major economy in the world. And, very soon, it is going to become the third largest economy in the world,” Modi said at the India-Japan Economic Forum in Tokyo.
Modi said in India, capital doesn’t just grow, it multiplies. “You are all aware of the growth and transformation that have taken place in India over the last 11 years…. We contribute 18% to global GDP, and our markets are delivering strong returns. Our approach of reform, transform, and perform is driving all this progress,” he said.
“JETRO (Japan External Trade Organisation) says that 80 per cent of companies want to expand in India. Seventy-five per cent of companies are making profits. In India, capital does not just grow, it multiplies.” Modi said.
On India-Japan ties
Modi described India-Japan’s partnership as “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,” Modi said.
“Japan has always been an important partner in India’s journey of development. From Metro to Manufacturing, semiconductor to start-ups, our partnership has been a symbol of trust. Japanese companies have invested more than USD 40 billion in India. In the last two years, there has been a USD 13 billion private investment,” PM Modi said.
Modi also said that India’s approach of “reform, perform and transform” is behind this development, highlighting key schemes, such as GST and reforms for ease of doing business.
“Our approach of reform, perform and transform is behind this change. In 2017, we started One Nation One Tax; now we are bringing new reforms to this. We have given importance to ease of doing business. We have given single-window approval for businesses,” Modi said in Tokyo.
PM Modi on two-day Japan visit
Modi arrived in Tokyo on Friday morning, beginning a two-day official visit to attend the 15th India-Japan Annual Summit.
This marks his first standalone visit to the country in nearly seven years, aimed at deepening bilateral ties and advancing the Special Strategic and Global Partnership with Japan.
The visit comes at the invitation of Japanese Prime Minister Shigeru Ishiba. During the summit, Modi will hold in-depth talks with his Japanese counterpart, reviewing progress across multiple domains and exchanging views on regional and global issues of mutual interest.
Following the Japan visit, he will travel to China from August 31 to September 1 to attend the Shanghai Cooperation Organisation (SCO) Summit in Tianjin.
Summary: During Japan visit, PM Modi emphasized India’s political and economic stability, reassuring investors after US imposed 50% tariffs.