India Japan Summit: Japan will invest Rs 3.20 lakh crore in India, know what it means amid Russia-Ukraine war

India Japan Summit: Japan will invest Rs 3.20 lakh crore in India, know what it means amid Russia-Ukraine war

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new Delhi. Japanese Prime Minister Fumio Kishida has announced an investment of 5 trillion yen (Rs 3.20 lakh crore) in India in the next five years amid the Russia-Ukraine War. During the discussion of broad issues between the two countries with Indian Prime Minister Narendra Modi, Kishida said that the Indian economy will grow rapidly in the coming times.

In the meeting of the two Prime Ministers, other issues including Ukraine crisis were discussed. The two sides signed six agreements to expand bilateral cooperation in several areas, besides strengthening a separate clean energy partnership.

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Relationship is necessary for peace in the whole world
In a joint address after the meeting, Prime Minister Modi said that further deepening of India-Japan partnership is not only important for both the countries, but it is necessary for the Indo-Pacific region and the whole world. This will encourage peace, prosperity and stability.

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Russo-Ukraine war also discussed
Japanese Prime Minister Kishida said that we discussed the situation in Ukraine. The Russian attack is a serious matter and has shaken the very roots of the international order. We need to look into this matter with a strong determination.

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Consent required on the basis of international law
Kishida said, “I told Modi that unilateral attempts to change the status quo through force cannot be allowed in any region.” We both agreed on the need for peaceful resolution of all conflicts on the basis of international law.

Foundation laid in 2014
Referring to bilateral trade ties, Kishida said Japan has an investment target of “five trillion yen” (Rs 3,20,000 crore) in India over the next five years. We have announced that over the next five years we will invest five trillion yen in India and further strengthen our cooperation. The announcement is in line with the Investment Promotion Partnership of 2014, when the two sides agreed to a Japanese investment of 3.5 trillion yen from 2014 to 2019.

Strong relations between the two countries
Foreign Secretary Harsh Vardhan Shringla said that there was a fruitful discussion between Modi and Kishida regarding the partnership of both the countries. The outcome of the talks shows India’s close relationship with Japan. Modi also said that India and Japan understand the importance of safe, reliable and stable energy supply. Both sides also resolved to enhance cooperation in the Indo-Pacific region.

Tags: India, Investment, Japan, Prime Minister Narendra Modi

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