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India

Japan’s Fumio Kishida, PM Modi Hold Talks To Boost Economic, Cultural Ties

During Saturday's public-private forum, the Japanese Prime Minister is also expected to express his support for infrastructure development in India, with an aim to draw Japanese companies here.

PM Narendra Modi and Japanese PM

New Delhi: Japanese Prime Minister Fumio Kishida, who is in India on a two-day visit, met Prime Minister Narendra Modi in New Delhi on Saturday. The two leaders leaders discussed ways to boost economic and cultural ties between the two nations. 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.

This is Prime Minister Fumio Kishida’s first visit to India after assuming office and also amid the ongoing Ukrainian crisis. He will take part in the 14th India-Japan Annual Summit, besides holding bilateral talks with PM Modi.

During his visit, the Japanese Prime Minister is likely to announce a plan to invest USD 42 billion (5 trillion yen) in India over the five years, according to a media report.

On Saturday, Kishida is expected to agree to an approximately 300 billion yen loan and an energy cooperation document concerning carbon reduction is likely to be signed during the meeting between the two leaders.

The Japanese Prime Minister, who will reveal the public-private funding during an economic forum, is expected to pledge growth in direct investment in terms of value, as well as an increase in Japanese companies expanding into India, news agency ANI cited a media report.

During Saturday’s public-private forum, the Japanese Prime Minister is also expected to express his support for infrastructure development in India, with an aim to draw Japanese companies here.

India-Japan Annual Summit

According to the media outlet, Kishida plans to confirm the strengthening of security arrangements with Russia’s invasion of Ukraine in mind. The India-Japan Annual Summit had last taken place in Tokyo in October 2018.

Kishida’s visit to India gains significance amid the western countries slapping sanctions against Russia for its military operation in Ukraine while the major oil-consuming countries are keeping a close watch on the impact of the Ukrainian crisis on oil prices.

India and Japan have multi-faceted cooperation as partners within the ambit of their “Special Strategic and Global Partnership”.

During the Summit, both sides will get the opportunity 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.

Tremendous progress has been made with the implementation of several important decisions taken by both countries since PM Modi’s visit to Japan in 2014, when Shinzo Abe the prime minister.

Japan had announced an investment of Yen 3.5 trillion for India, which included public and private participation in various projects.

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(With ANI inputs)