PM Modi, Japan PM Kishida address India-Japan Economic Forum

Kishida to announce plan to invest S42 billion in India over five years


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Japan's Prime Minister Fumio Kishida and his Indian counterpart Narendra Modi at the lawns of the Hyderabad House in New Delhi. AFP
Japan's Prime Minister Fumio Kishida and his Indian counterpart Narendra Modi at the lawns of the Hyderabad House in New Delhi. AFP

Published: Sat 19 Mar 2022, 6:42 PM

Last updated: Sat 19 Mar 2022, 7:12 PM

Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida addressed the India-Japan Economic Forum on Saturday.

Earlier, 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, as per Prime Minister’s Office.

The Ministry of External Affairs (MEA) informed that the 14th annual India-Japan Annual Summit, aimed at enhancing bilateral relations between two countries began today.

“The 14th Annual Summit gets underway with a meeting between PM @narendramodi and Japanese PM @kishida230. Another step toward advancing the India-Japan partnership - a partnership for peace, prosperity and progress,” tweeted MEA spokesperson Arindam Bagchi.

Kishida was also set to announce a plan to invest S42 billion in India over the next five years and is likely to announce the public-private funding plan during the 14th India-Japan Annual Summit, according to a report in Nikkei Asia.

The Japanese PM arrived in the national capital earlier today for his first visit to India as the head of the Japanese government. Union Minister Ashwini Vaishnaw received the Japanese Prime Minister at the airport.

This is Kishida’s first such visit in his role as Prime Minister and the Summit would be the first meeting between the two leaders. The previous India-Japan Annual Summit took place in Tokyo in October 2018.

The Summit will provide an opportunity for both sides 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.

Last year witnessed increasing bilateral and multilateral engagement between India and Japan, and further strengthening of the India-Japan Special Strategic and Global Partnership.

The two sides maintained the momentum in ties through virtual meetings and phone calls despite the pandemic.

Prime Minister spoke to the then Japanese Prime Minister Suga on April 26, 2021, to exchange views on the management of the pandemic and for strengthening cooperation in the post-Covid-19 world.

Both nations also witnessed further strengthening of bilateral security and defence cooperation.

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