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.