Japan to invest $42 bn over next 5 years in India, sign 6 agreements

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  in New Delhi during the India-Japan Annual Summit earlier in the day. 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.“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.

Addressing the joint press meet with PM @kishida230. https://t.co/FJWELr32MZ

— Narendra Modi (@narendramodi) March 19, 2022

“I discussed the ongoing conflict in Ukraine with Prime Minister Modi. The whole world has been shaken today due to many disturbances, it's very important for India and Japan to have a close partnership. We expressed our views, talked about the serious invasion of Russia into Ukraine. We need a peaceful solution on the basis of international law,” the Japanese premier said. “The world is witnessing several events at this point of time. India and Japan share common values like democracy and law of the land. Both the countries should forge a close relationship on platforms like Quad so that we can ensure a free Indo-Pacific region,” Kishida said.