Japan to invest Rs 3.2 lakh crores in India over next 5 years: PM Modi after annual India-Japan Summit
NEW DELHI, MARCH 19 : Japan will invest 5 trillion yen or Rs 3.2 lakh crores in India over the next five years, PM Narendra Modi said on Saturday. The Prime Minister made the statement while addressing a joint press conference with his Japanese counterpart Fumio Kishida in New Delhi.
The two leaders also held bilateral talks at Hyderabad House in New Delhi during the India-Japan Annual Summit earlier in the day.
Japan’s investment target in India follows investment promotion partnership of 2014.
“The world is still grappling with Covid-19 and its side effects. There are still obstacles in the process of global economic recovery. Geo-political events are also presenting new challenges,” PM Modi said at the press conference.
The prime minister emphasised that deepening the India-Japan partnership will encourage peace, prosperity and stability in the Indo-Pacific region and also at global level.
India and Japan inked six agreements following talks between PM Modi and PM Fumio Kishida. The two countries also announced clean energy partnership following talks between PM Modi and PM Kishida.
PM Modi said, “India and Japan understand the importance of a secure, trusted, predictable and stable energy supply.”
Apart from discussing ways to boost economic and cultural ties between the two countries, the two world leaders discussed other global issues, including the Russian invasion of Ukraine.
Referring to Russian attacks on Ukraine, Japanese PM Kishida said, “Unilateral attempts to change the status quo using force should not be allowed.”
“Russian attack a serious matter as it has shaken international norms,” the Japanese PM added.
Japanese PM Kishida, accompanied by a high-level delegation, arrived in Delhi at around 3:40 pm on Saturday on his first visit to India as the head of the Japanese government.
-The India Today
