Japan to invest $42 billion in India over next 5 years

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Japan will make an investment of 5 trillion Yen, that is, about 3.2 lakh crores in India in the next five years, reports Asian Lite News

Prime Minister Narendra Modi on Saturday said that deepening of partnership between India and Japan will help in encouraging peace, prosperity and stability in the Indo-Pacific region.

In a joint press statement with visiting Japan Prime Minister Fumio Kishida after the 14th summit meeting between the two countries, the Prime Minister said PM Kishida has played a significant role in the unprecedented progress in the India-Japan partnership.

“The world is still struggling with the impact of COVID-19. There are obstacles in the global economic recovery process. The geopolitical developments are also posing new challenges. In this context, it is not only important for India and Japan to strengthen their bilateral partnership but it will encourage peace, prosperity and stability in the Indo-Pacific region and in the world,” he said.

In this context, it is not only important for India and Japan to strengthen their bilateral partnership but it will encourage peace, prosperity and stability in the Indo-Pacific region and in the world,” he said

PM Modi said that the discussions during the meetings have taken bilateral relations between the two countries to new heights.

He said apart from bilateral relations, the two sides also discussed regional and global issues.

“We also decided to increase our coordination at the United Nations and other international platforms,” he said.

The Prime Minister said that companies from Japan have been in a way for a long time been “brand ambassadors” of India.

Indian Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida

“India has introduced several economic reforms in previous years in terms of ease of doing business. India is providing unlimited opportunities in Make In India for the world. Companies from Japan have been in a way for long time been brand ambassadors. We are committed to giving Japanese companies in India a friendly atmosphere,” he added.

PM Modi said Japan has made a notable contribution in the flagship projects like Dedicated Freight Corridor and Mumbai-Ahmedabad High-Speed Rail project.

“Good progress is being made on Mumbai-Ahmedabad High-Speed Rail,” he said.

The Prime Minister also said that Japan would make an investment of 5 trillion Yen, that is, about 3.2 lakh crores in India in the next five years.

PM Modi said that India and Japan understand the importance of a secure, trusted, predictable and stable energy supply. “This is essential to achieve sustainable economic growth and to deal with climate change. Our clean energy partnership will be a deciding step in this direction,” he stated.

Welcoming Kishida and his delegation to India, PM Modi said that the Japanese PM’s journey has been successful in adding new dimensions to the India-Japan special strategic and global partnership.

Violence in Ukraine

Foreign Secretary Harsh Vardhan Shringla on Saturday said that the Russia-Ukraine conflict and China were discussed during the talks between Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida, where both leaders expressed the seriousness about the ongoing conflict and humanitarian crisis and assessed broader implications for Indo-Pacific.

Addressing a special briefing after the 14th India-Japan summit meeting between the two leaders, Shringla said both sides exchanged perspectives on the “global level issue.”

“PM Modi and Japanese PM Kishida emphasised on the importance of the safety and security of nuclear facilities in Ukraine. They reiterated their call for an immediate cessation of violence and noted that there was no other path than dialogue for resolving the Ukraine crisis,” the foreign secretary said.

Indian Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida

Shringla said that PM Modi expressed the seriousness of the ongoing conflict and humanitarian crisis in Ukraine assessed its border implications, particularly for the Indo Pacific region.

“They emphasised that the contemporary global order had been built at UN charter international law and respect to the sovereignty and territorial integrity,” the foreign secretary said today.

“Both the PMs discussed China, we informed Japan of the situation in Ladakh, the attempts of amassing the troops, and our talks with China on border-related issues… Japanese PM also briefed us on his own perspective vis-a-vis East and South China sea, Shringla said.

The Foreign Secretary further said that three agreements were concluded during a memorandum of cooperation on cyber security, a memorandum of cooperation in the field of sustainable development and a memorandum of cooperation on wastewater management. (ANI)

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