Japan announces $42 billion investment in five years

In 2014 after PM Modi became PM, Japan was his first official visit to a foreign country.

Published: 20th March 2022 12:22 PM  |   Last Updated: 20th March 2022 12:22 PM   |  A+A-

PM Modi and Japanese PM Fumio Kishida in New Delhi on Saturday . ( Photo | PTI)

PM Modi and Japanese PM Fumio Kishida in New Delhi on Saturday . ( Photo | PTI)

NEW DELHI: Japan’s Prime Minister, Fumio Kishida, today announced that they would invest 5 trillion Yen ($42 billion) in India over the next five years. This translates into `3.2 lakh crore.He was in India for the 14th India Japan Annual Summit, which was held after a gap of three and half years. 

Besides the major investment that Japan is making, PM Kishida raised the issue of Ukraine during his interaction with PM Modi. “Russia’s attacking Ukraine is a serious issue. The international order is badly shaken as a result of this. “We suggest a ceasefire,” Kishida said.He said that India and Japan should work towards enabling a ceasefire in the Ukraine conflict with a peaceful resolution. This can be possible through dialogue.

This is PM Kishida’s first bilateral foreign visit after he assumed office, last year.PM Modi expressed optimism of the economic tie-up between the two countries.“There has been progress in the economic partnership between India and Japan. Japan is one of the largest investors in India. India-Japan are working as ‘One team-One Project’ on Mumbai-Ahmedabad high-speed rail,” Prime Minister Modi said.

In 2014 after PM Modi became PM, Japan was his first official visit to a foreign country. After this India-Japan became strategic partners.“PM Kishida’s visit is important for stability and peace in the Indo-Pacific region,” said Foreign Secretary Harsh Vardhan Shringla.

This year also happens to be the 70th anniversary of the establishment of India and Japan’s diplomatic relations which began in 1952.

“Progress, prosperity and partnership are the basis of India-Japan relations. We are committed to providing all possible support to Japanese companies in India," PM Modi said. Business meetings were held attended by the two Prime Ministers.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp