In the 14th summit between Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida on Sunday, it has been agreed to invest 5 trillion Japanese yen i.e. about 3.2 lakh crore rupees in the country. During the talks, a number of issues were discussed between the two leaders and six agreements were signed. Bilateral, regional and global issues were also discussed during this period. A partnership on clean energy was also started in both the countries, under which Japan will provide cooperation to India in the field of electric vehicle batteries and clean fuel.
Prime Minister pic.twitter.com/MTUrPcR1VY
— ANI (@ANI) August 22, 2021
Meanwhile, Prime Minister Narendra Modi, in a statement issued after the summit with the Japanese Prime Minister, said that India-Japan partnership is making unprecedented progress. This progress has come at a time when the world is grappling with the ill-effects of COVID, and there are still obstacles to recovery and the changing geopolitics has created new challenges. But this partnership is not only important for both the countries, but it will also promote peace and stability at the world level, including in the Indo-Pacific region.
The Prime Minister said that today’s discussions took the cooperation to newer heights as well as considered bilateral, regional and global issues. He said that India-Japan economic partnership has seen phenomenal growth in the past several years. There is tremendous trust and enthusiasm in both the countries. Japan is a trusted partner of one of the largest investors in India. He has been instrumental in the Dedicated Freight Corridor and Mumbai-Ahmedabad High Speed Rail projects.
The Prime Minister said that the target of investment of 3.5 trillion yen in India under economic partnership in 2014 has been exceeded and now it has been decided to enhance this ambition. Japan will invest 5 Khabar Yen i.e. 3.2 lakh crore rupees in the country during the next five years. The Prime Minister said that India has undertaken extensive economic reforms in recent years.
This has opened up immense investment opportunities. We are providing favorable opportunities to Japanese companies. He said that the initiative of India-Japan Industrial Competitive Partnership Roadmap will also prove to be important in this direction. Both the Prime Ministers said that both the countries have also started the Clean Energy Partnership. It will strengthen the eco-system of sustainable development, but will also prove to be important for tackling climate threats.
six agreements signed
1- Exchange of information for cyber security.
2- Projects worth 20400 crores which include schemes for drinking water supply, sewage, health, water conservation, connectivity, forestry and biotechnology sectors.
3- There is a diplomatic note in which changes have been made in the economic partnership.
4- Agreement on wastewater management.
5-India-Japan Industrial Competitive Partnership Roadmap Project.
Agreement on sustainable urban development.
Japanese Prime Minister Kishida reached Hyderabad House with a high-level delegation at 3.40 pm. Where Prime Minister Narendra Modi welcomed him. This is his first visit to India as the head of the Japanese government. He was previously the Foreign Minister of Japan and has visited India several times as Foreign Minister. Modi’s office tweeted, “Prime Minister Modi is strengthening friendship with Japan. There was a fruitful conversation between Prime Minister Modi and Kishida in Delhi. The two leaders discussed measures to strengthen economic and cultural ties between the two countries. External Affairs Ministry Spokesperson Arindam Bagchi said the agenda of talks between Modi and Kishida included regional and global issues of mutual interest besides multi-faceted bilateral ties.
The last annual summit was held in October 2018 in Tokyo
It is worth noting that the last annual summit meeting between India and Japan was held in October 2018 in Tokyo. In December 2019, the proposed annual summit between Prime Minister Modi and his then Japanese counterpart Shinzo Abe in Guwahati was canceled in the wake of widespread protests over the Citizenship Amendment Act. After this, this summit could not be held in 2020 and 2021 also due to the corona virus epidemic.