Japanese Prime Minister Urges Improved Business Environment in India for 5 Trillion Yen Investment Goal

Japanese Prime Minister Urges

VoM News Desk | September 9, 2023 | 05:47 PM IST | Asia, Breaking News |

Japanese Prime Minister Fumio Kishida, during a bilateral meeting with Prime Minister Narendra Modi on the sidelines of the G20 Summit, emphasized the need to enhance the business environment in India to achieve the ambitious goal of attracting 5 trillion yen in investments. This call for action underscores the significance of the economic relationship between Japan and India and their mutual commitment to fostering stronger ties.

Japan’s Investment Target and India’s Progress

In the meeting, Prime Minister Kishida acknowledged the steady progress in Japan-India relations over recent years. He highlighted the importance of cooperation between the two nations in improving the investment climate in India. This cooperation aims to realize the target of attracting five trillion yen in both public and private investments and financing from Japan to India within the next five years, a goal that was set in March of the previous year.

Significant Loan for High-Speed Rail Project

Both leaders expressed satisfaction with the provision of a 400 billion yen loan for India’s ongoing high-speed rail construction project. This project reflects the collaborative efforts of Japan and India to develop crucial infrastructure and enhance connectivity within the country.

Enhanced Cooperation in Multiple Sectors

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Prime Minister Modi, following the meeting, described their talks as productive and highlighted the achievements made in India-Japan bilateral relations during India’s G20 Presidency and Japan’s G7 Presidency. Both leaders expressed eagerness to further enhance cooperation in various sectors, including connectivity and commerce. Their commitment to strengthening economic ties demonstrates the shared vision of prosperity and progress.

Acknowledgment of Space Success

Prime Minister Kishida extended his congratulations to Prime Minister Modi on the historic success of Chandrayaan-3’s moon landing. This achievement highlights India’s growing prowess in the field of space technology. The two leaders discussed the potential for collaboration in advanced technology, particularly in the realm of space exploration.

Advancing a Free and Open International Order

In addition to economic collaboration, the leaders affirmed their commitment to maintaining and reinforcing a free and open international order rooted in the principles of the rule of law. This commitment reflects their shared values and dedication to global stability and cooperation.

VoM News Desk

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Japanese Prime Minister Urges Improved Business Environment in India for 5 Trillion Yen Investment Goal

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