Prime Minister Narendra Modi is visiting Japan on 29-30 August for the 15th India-Japan annual summit, his eighth visit and the first with Prime Minister Shigeru Ishiba. This crucial, highest-level dialogue aims to bolster their "special strategic and global partnership," encompassing defence, security, trade, economy, technology, and people-to-people exchanges. Both nations, as leading Asian democracies and among the top five global economies, are committed to fostering open, rules-based, and democratic growth.

Economically, while a Comprehensive Economic Partnership Agreement (CEPA) has been in place since 2011, its full trade potential remains unrealised. Japanese investment, particularly through public-private partnerships, has been significant, yet investors still report difficulties with India’s ease of doing business. Opportunities are being explored in skilled Indian migration to Japan and the burgeoning low-end semiconductor industry in India.

Defence cooperation is a key area, focusing on co-production and co-development under "Make in India," leveraging Japan's advanced technology and India's manufacturing capabilities. This initiative aims to position India as an exporter of defence platforms to third countries and potentially to Japan, helping to balance trade. Japan, increasingly looking to reinvigorate its own defence sector, views partnership with India as a strategic choice amidst changing regional security realities and a need to reduce reliance on the US. After Tokyo, the leaders are expected to travel to Sai, a city known for semiconductors, via bullet train.