Prime Minister Fumio Kishida declared on Saturday that the country’s investment aim in India will be increased to $5 trillion yen ($42 billion) over the next five years. After extensive talks with Prime Minister Narendra Modi, he made the announcement.
Kishida, who is visiting India for the first time as Prime Minister, met with Modi at Hyderabad House in New Delhi and held detailed conversations on a variety of topics, including ways to strengthen bilateral economic and cultural connections.
Following their meeting, the two presidents addressed the 14th annual India-Japan summit together.Six agreements on cybersecurity, capacity building, information sharing, or cooperation were signed at the meeting.
Prime Minister Narendra Modi stated at the summit that India-Japan relations in the Indo-Pacific region and globally are built on growth, prosperity, and partnership.
He stated that New Delhi is dedicated to giving all feasible help to Japanese companies, citing the growing Japanese investment in India.
“India and Japan have made progress in their economic relationship. Japan is one of India’s most active investors. On the Mumbai-Ahmedabad high-speed rail corridor, the countries are working as “One team-One project.” “According to Prime Minister Modi. PM Modi spoke to Kishida as a “old friend of India” and said he had the opportunity to discuss views with him while he was Japan’s foreign minister. The Japanese Prime Minister declared at the conference that Tokyo intends to increase its investment aim in India to $5 trillion yen ($42 billion) over the next five years. The initiatives are a follow-up to the 2014 investment promotion collaboration. Japan is actively assisting India in the development of its urban infrastructure, as well as the construction of a high-speed railway based on the shinkansen bullet train technology.
The Japanese Prime Minister addressed the current war between Russia and Ukraine, stating that the unrest in the region has rattled the entire world. He stated that having a close cooperation between India and Japan has become increasingly crucial during this time. Kishida stated that India and Japan should continue to collaborate in order to achieve a “open and free Indo-Pacific.”
Including the United States and Australia, India and Japan are members of the Quad Security Dialogue. The four-nation bloc is considered as a regional counterweight to China’s hegemony in the Indo-Pacific.
At around 3:40 p.m., Kishida, who is accompanied by a high-level group, arrived in New Delhi for a two-day visit. The Japanese Prime Minister is set to leave India at 8 a.m. on Sunday, according to an external affairs ministry media alert. After ending his tour to India, Kishida will go to Cambodia.