Japan to invest 3.2-lakh cr in India

New Delhi: Prime Minister Narendra Modi on Saturday held "productive" talks with his Japanese counterpart Fumio Kishida on a wide range of issues, including ways to further boost bilateral economic and cultural ties. Hours before Kishida's arrival here, Japan's Nikkei newspaper reported that he is expected to announce a plan to invest 5 trillion yen (Rs 3,20,000 crore) in India over the next five years during his visit.

Kishida, accompanied by a high-level delegation, arrived here at around 3:40 pm on his first visit to India as the head of the Japanese government. "Advancing friendship with Japan. Prime Ministers @narendramodi and @kishida230 held productive talks in New Delhi. Both leaders discussed ways to boost economic and cultural linkages between the two countries," Modi's office tweeted. External Affairs Ministry Spokesperson Arindam Bagchi said the agenda of the summit talks between Modi and Kishida included multifaceted bilateral ties as well as regional and global issues of mutual interest. "PM @narendramodi welcomed Japan's PM @kishida230 for the 14th India-Japan Annual Summit. Discussions on our multifaceted bilateral ties, regional & global issues of mutual interest on the agenda," he tweeted.

According to a media advisory issued by the external affairs ministry, the Japanese prime minister is scheduled to depart from India at 8 am on Sunday. Kishida is travelling to Cambodia after concluding his India visit. Before leaving for India, Kishida said Russia's invasion of Ukraine is unacceptable and such actions should never be allowed in the Indo-Pacific region.

The Japanese prime minister said he will exchange views on the situation in Ukraine with leaders of India and Cambodia. Prime Minister Modi had spoken to PM Kishida on phone in October 2021 soon after he assumed office. Both sides expressed a desire to further strengthen the special strategic and global partnership.

This year also marks the 70th anniversary of the establishment of diplomatic relations between the two countries. The annual summit between Prime Minister Modi and his then Japanese counterpart Shinzo Abe was cancelled in December 2019 in Guwahati in the wake of massive protests rocking the Assam capital over the amended citizenship law. The summit could not be held in 2020 as well as in 2021 primarily due to the Covid-19 pandemic.