Japan To Invest Rs 3.2 lakh Crores In India Over Next Five Years: PM Modi After 14th Annual Bilateral Summit

Speaking at the summit, PM Modi emphasised that "progress, prosperity and partnership" are the basis of India-Japan relations, and said Delhi is committed to providing all possible support to Japanese companies in India.

New Delhi: Japan will invest Rs 3.2 lakh crore or 5 trillion Yen in the next five years in India, Prime Minister Narendra Modi said on Saturday, noting that the two countries have already achieved the investment target that was set in 2014. Addressing the joint press conference with visiting Japan Prime Minister Fumio Kishida after the 14th summit meeting between the two countries, PM Modi said strengthening of bilateral ties will encourage peace, prosperity and stability in the Indo-Pacific region and the world.

He said both India and Japan understand the importance of “secure, trusted, predictable aur stable energy supply” and this is important to achieve goals of sustainable economic growth and dealing with climate change.

Earlier, Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida also addressed the 14th India-Japan Annual Summit. According to the Ministry of External Affairs (MEA), the 14th annual India-Japan Annual Summit is aimed at enhancing bilateral relations between two countries.

Key Points Of PM Modi’s Speech at 14th India-Japan Annual Summit

• Speaking at the summit, PM Modi emphasised that “progress, prosperity and partnership” are the basis of India-Japan relations, and said Delhi is committed to providing all possible support to Japanese companies in India.
• 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. In this context, deepening the India-Japan partnership is not only important for both countries.
• India-Japan relations will encourage peace, prosperity and stability in the Indo-Pacific region and also at the global level.
• Both India and Japan understand the importance of a secure, trusted, predictable and stable energy supply. It is imperative to achieve the goal of sustainable economic growth and tackle the problem of climate change.
• India-Japan clean energy partnership will prove to be a decisive step in this direction.

Prior to that, both leaders also witnessed the exchange of MoUs between India and Japan agreements, signed in the areas of cybersecurity, capacity building, information sharing and cooperation.

Earlier in the day, PM Modi met the Japanese PM at the Hyderabad House in New Delhi and the two leaders held productive talks during which ways to boost economic and cultural linkages between the two countries were discussed.