'Japan Will Invest Rs 3.2 Lakh Cr in India': PM Modi After Talks With PM Kishida

Japanese PM Kishida raised concerns over the war in Ukraine at the India-Japan Annual Summit with PM Modi.

Japan's Prime Minister Fumio Kishida met Prime Minister Narendra Modi at the Hyderabad House in Delhi, soon after arriving in India on Saturday, 19 March.

(Photo Courtesy: PMO)

Prime Minister Narendra Modi and Japan's Prime Minister Fumio Kishida held the 14th Annual Indo-Japan Summit on Saturday, 19 March, where delegation-level talks were held between the two nations. "Japan will invest 5 trillion Yen or Rs 3.2 lakh crore in the next five years in India," PM Modi said after the interaction.

The two leaders also addressed the India-Japan Economic Forum, where they focused on "synergising India’s demographic dividend and Japan’s capital and technology".

"Progress, prosperity, and partnership are the basis of India-Japan relations. We are committed to providing all possible support to Japanese companies in India," Modi said at the forum.

Agreements have been signed between the nations in the areas of cybersecurity, capacity building, information sharing, and cooperation, he shared. "India and Japan are working as 'one team-one project' on Mumbai-Ahmedabad high-speed rail corridor," the PM stated.

Tweeting a video of the forum, the Indian prime minister said "Boosting business linkages with Japan."

Delegation Level Talks Held Amid India-Japan Summit

Modi and Kishida met at the Hyderabad House in Delhi, soon after the latter arrived in India on Saturday. They held delegation-level talks to review and strengthen the special strategic and global partnership between the two nations, as per the Ministry of External Affairs.

"Advancing friendship with Japan. Prime Ministers Narendra Modi and Fumio Kishida held productive talks in New Delhi. Both leaders discussed ways to boost economic and cultural linkages between the two countries," the Indian prime minister's office had said in a statement.

PM Kishida is in India for a two-day annual summit with a focus on strengthening security and economic ties. During his visit, Kishida is expected to announce a plan to invest 5 trillion yen (roughly $42 billion) in India over five years. He is also likely to raise concerns regarding India's position on the Russia-Ukraine war.

This is Kishida's first meeting with Prime Minister Modi since he assumed office last year. The Japanese prime minister was received at the airport by Union Minister Ashwini Vaishnaw.

The previous annual summit had taken place in Tokyo in October 2018 when Shinzo Abe was the prime minister of Japan.

Japan PM Raises Russia-Ukraine War in Meet With Modi

"The whole world has been shaken today due to many disturbances, it's very imp 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," Japanese PM Kishida said at the forum on Saturday.

"Both our countries should increase efforts for an open and free Indo-Pacific. Japan, along with India, will keep trying to end the war and keep providing support to Ukraine and its neighbouring countries," he added.

"Since the Russian invasion of Ukraine coincides with this trip, I'd like to emphasise the importance of international unity and confirm that Japan and India will work together on various issues," Kishida had said in a press statement, ahead of the meeting with Modi.