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Japan to invest Rs 3.2 lakh crore in India over next 5 years, says PM Modi

India and Japan inked six agreements providing for the expansion of bilateral cooperation in a range of areas, besides firming a separate clean energy partnership.

Edited by: India TV News Desk New Delhi Updated on: March 19, 2022 21:23 IST
PM Narendra Modi and Japanese PM Fumio Kishida witness
Image Source : ANI

PM Narendra Modi and Japanese PM Fumio Kishida witness exchange of MoUs between India & Japan.

Highlights

  • Japan will invest Rs 3.2 lakh crore (5 trillion yen) in India over the next 5 years, PM Modi said
  • India-Japan inked six agreements providing for expansion of bilateral cooperation
  • Both countries also discussed ongoing Russia-Ukraine war

Japan will invest Rs 3.2 lakh crore (5 trillion yen) in India over the next 5 years, Prime Minister Narendra Modi said on Saturday following talks with Japanese counterpart Fumio Kishida.

The two sides inked six agreements providing for the expansion of bilateral cooperation in a range of areas, besides firming a separate clean energy partnership.

At a joint media briefing, Modi said deepening India-Japan ties will not only benefit the two countries but will also help in encouraging peace, prosperity and stability in the Indo-Pacific region.

Kishida said the situation in Ukraine following the Russian invasion figured in the talks and described Moscow's actions against the eastern European country as a serious matter that has shaken the basis of international norms.

Unilateral attempts to change the status quo using force should not be allowed, he said.

Modi said India and Japan understand the importance of a secure, trusted, predictable and stable energy supply and that both sides are determined to expand overall cooperation.

PM Modi and Japanese counterpart Kishida exchanged perspectives on Ukraine. They expressed the seriousness about the ongoing conflict & humanitarian crisis and assessed broader implications for Indo-Pacific, Foreign Secretary Harsh Vardhan Shringla said.

Three agreements were concluded; a memorandum of cooperation on cyber security, a memorandum of cooperation in the field of sustainable development& a memorandum of cooperation on wastewater management, Shringla mentioned.

As two major powers in the Indo-Pacific region, PM Modi and Japanese PM Kishida held detailed discussions on regional & global issues, Foreign Secretary added.

Guided by strong political will the India-Japan partnership has made significant progress. This is an important relationship not only bilaterally but also for the Indo-Pacific and the world at large, Foreign Secretary Harsh Vardhan Shringla said.

Both the leaders discussed the entire range of areas including economic cooperation, digital cooperation, cooperation for the development of the NorthEast region of India, skill development etc.

ALSO READPM Modi holds bilateral talks with Japanese counterpart Fumio Kishida at Hyderabad House in Delhi

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