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Japan To Invest Rs 3.2-L Crore In India Over Next 5 Years

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By: Ayanangsha Maitra
Updated: March 19, 2022 15:04
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NEW DELHI: Japan announced to invest 5 trillion yen or Rs 3.2 lakh crores in India over the next five years following a summit between PM Narendra Modi and Japanese PM Fumio Kishida in New Delhi on Saturday.

Following the 14th India-Japan Annual Summit, Prime Minister Modi, addressing a joint press conference here, said Japan has set a target of investing Rs 3.2 lakh crores in India.

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PM Kishida arrived in New Delhi earlier today on his maiden two-day visit to India and met Prime Minister Narendra Modi for the first time after assuming office.

During the summit, the two leaders exchanged views on an array of subjects including the Indo-Pacific, Quad, and the Russian invasion of Ukraine. “I have also discussed the situation in Ukraine with PM Narendra Modi. The The Russian invasion of Ukraine is a very serious matter which has shaken the very foundation of global order,” Kishida told media persons  here.

Stressing on the need to further deepening the bilateral relations, PM Modi said, “Deepening the India-Japan partnership is important not only for both the country but will also promote peace and prosperity in the Indo-Pacific as well as across the world.”

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Ahead of his visit, the Ministry of External Affairs said, “India and Japan have multifaceted cooperation within the ambit of their ‘Special Strategic and Global Partnership’. The Summit will provide an opportunity for both sides to review and strengthen the bilateral cooperation in diverse areas as well as exchange views on regional and global issues of mutual interest so as to advance their partnership for peace, stability and prosperity in the Indo-Pacific region and beyond.”

In an article in an Indian newspaper ahead of his visit, Prime Minister Kishida has condemned the Russian attack on Ukraine.

His visit coincides with the commemoration of the 70th anniversary of diplomatic ties between India and Japan. He will leave New Delhi for Cambodia around 8 am on Sunday, a Japanese source informed The New Indian.

“This is the first prime ministerial visit to India after a span of 4.5 years. We have a special strategic partnership with India and we want to develop this partnership further,” Japan’s Chief Cabinet Secretary Hirokazu Matsuno stated in a video.

India and Japan organized a meeting of Act East Forum on March 15.

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