New Delhi: In a big boost to India's focus on building infrastructure, Japan on Monday promised to give 3.5 trillion yen (over $33.58 billion) to finance projects including infrastructure and building of smart cities.
Japan also expressed readiness to provide financial, technical and operational support to introduce bullet trains in India. Japan will remove six of India's space and defence-related entities from Japan's Foreign End User List.
Addressing a joint press conference with Prime Minister Narendra Modi, Japan Prime Minister Shinzo Abe said, "We have decided to pursue comprehensive defence and security cooperation."
Thanking Abe for his invitation to visit Japan within 100 days of the NDA government, PM Modi said, "Japanese PM Shinzo Abe has promised to participate in India's 'inclusive growth' agenda in a new manner." "India's friendship with Japan has strengthened over a period of time. India and Japan's spiritual partnership is not bound by time," Modi said.
Stressing that India's ties with Japan are not restricted to economic and political sphere, Modi said, "In near future, Japan will play a key role in India's inclusive development. We have decided to pave the way for a special global partnership with Japan." "We have agreed to work on regional co-operation and strategic partnership," Modi added.
Earlier in the day, Modi inviting Japanese investment into India saying, "We developed deep relations with Japanese companies in Gujarat. In the coming days you'll get the same speed and response that you have experienced in Gujarat in the past."
Addressing the Japan Chamber of Commerce and Industry in Tokyo, Modi sought to promise investors of better investment environment and speedy decisions. "India-Japan have a responsibility beyond that of bilateral relations. Indian & Japanese businessmen can give a direction to world economy," Modi stressed. "We give Japanese banks permission to open more branches in India," Modi added.
