Japanese Prime Minister Shinzo Abe formally welcomed Modi at the Akasaka Palace, one of the two state guest houses in Tokyo.

A guard of honour was presented to the Indian Prime Minister. Following the ceremony, summit-level talks both in restricted format and delegation level between Modi and Abe started.

Agreements decided on earlier will be signed following this.

Earlier in the day, Prime Minister Narendra Modi invited Japanese business leaders to join India's developmental efforts with a promise of non-discriminatory and speedy clearances and announced setting up of a Special Management Team under PMO to facilitate business from Japan.

Addressing top business leaders of Japan and India here, Modi flagged the recent decisions to liberalise FDI policy in the railways, defence and insurance and said rules and laws are being changed in India which would show results in the near future.

Modi, who has enjoyed immense reputation in Japan as then Gujarat Chief Minister in terms of ensuring the state's progress, said India wants to emulate Japan in terms of quality, zero defect and delivery systems while carrying out skill development.

Read More: PM Modi seeks Japan's help in research, skill development

He underlined the need for closer and deeper cooperation between Japan and India to champion the cause of global ‘vikas vaad (development) instead of vistar vaad (expansionism)’.

"We have to decide if we want to have 'vikas vaad' or 'vistar vaad' which leads to disintegration. Those who follow the path of Buddha and have faith on 'vikas vaad', they develop. But we see, those having ideas of the 18th century, engage in encroachments and enter seas (of others)," he said in comments that may be seen as targeting China which is having conflict over South China Sea with some neighbouring countries

While wooing Japanese businesses, Modi cited the latest growth figures of 5.7 per cent in the first quarter of this financial year and suggested that the phase of disappointment was over.

"See the work done in 100 days of my government. Earlier, the GDP used to hover around 5-5.4 percent and led to an environment of disappointment...But in the first quarter of our government, there has been a growth of 5.7 percent. It is a big jump. Now there is renewed hope," he said.

Targeting the previous Manmohan Singh government, he said the situation was bad for one decade. He specifically mentioned the UPA government's 'Go, No-Go' policy with regard to environmental clearances and said it would put anybody in a "dilemma" with regard to taking any decision.

He said India, after 30 years, has a government with full majority, which puts increased responsibility on the government to deliver as 125 crore people of the country have an urge to see the quality of life change.

Inviting Japanese businesses, particularly to infrastructure and clean energy sectors, the Prime Minister asked them to keep in mind the Gujarat experience.

He promised single-window clearances, speedy decision- making which is non-discriminatory in nature.

Read More: PM Modi to hold summit talks with Japanese Premier Abe; defence, technology on agenda

He said two representatives of Japanese business can be part of an Indian team which decides on business proposals. They can be permanently part of this decision making.

Asserting that good governance is his priority, the Prime Minister said single window-clearances is a significant part of it as he realizes the importance of easing business, simplifying procedures, quickening processes and using technology.

"I understand well the importance of coordination between government and industry," he said while noting that he wants to replicate the experiments he made in Gujarat at the national level.

"I have decided a Japan-plus Special Management Team directly under the PMO to absolutely facilitate proposals from Japan. I also propose that you nominate two people from Japan who would be made part of a team which looks into business proposals and they can be permanently part of our decision- making," he said.

"The results of initiatives taken in the first 100 days of my government are clearly visible," he said.

Read More: Modi visits Tokyo school to understand Japanese academic system


PM invites Japanese business in India
Modi government promises speedy clearances
Government to set up special team in PMO
Government allows FDI in railways, defence, insurance
Modi seeks skill development
PM pitches for 'vikas vaad' not 'vistar vaad'
India registers 5.7 percent growth rate in Q1
Government set to present report card of 100 days in office
India enjoyed a majority government after 30 years

He talked about the ‘bold’ decision to allow 100 percent FDI in railways and the ‘significant’ decisions of raising the cap of FDI from 26 percent 49 percent in defence and insurance.

He said results of these decisions will be visible soon.

"To make the PMO more efficient, we have started Japanese Management System. Training is already underway under the Kaizen system (of management)," Modi said, adding this was to bring the Japanese efficiency, at least in his PMO.

He talked about some of the quick decisions taken after he became the Prime Minister, like clearance to setting up of Japanese bank in Ahmedabad and completion of rare earth materials agreement.

"Being a Gujarati, commerce is in my blood. Businesses do not need concessions. They only need the environment to grow. It is the responsibility of the government and the leader to frame policy so that things start to move. If policy decisions are in place, there can be no discrimination and all get equal treatment," Modi said.

Pitching for closer cooperation between India and Japan, he said it was fortunate thing to happen that in both countries, governments have been elected with full majority.

Latest News from World News Desk