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Tuesday 2 September 2014

Japan's Rs 2 lakh, 10 thousand crore or $35 billion push for India's inclusive growth




In a joint statement after their summit-level talks in Tokyo on Monday, Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe said they have renewed their friendship over dinner and look forward to a lasting and fruitful relationship between Asia's second and third largest economies.

"I am happy that Prime Minister Shinzo Abe invited me to Japan and strengthened our friendship. Japan has primacy in our foreign relations," Modi said in his joint statement. "We have agreed to give Japan the status of a special strategic and global partner," he said. 10 takeaways from Modi's thank you speech in Tokyo



In his address, Abe said Modi's five-day trip to Japan is a historic boost to the ties between the two nations. Before the talks, Modi was accorded a ceremonial welcome at the Akasaka Palace, one of the two state guest houses in Tokyo. A guard of honour was also presented to the Indian leader.



Modi, on his first major foreign visit since a landslide election win in May, arrived on Saturday for a five-day trip aimed at capitalising on a personal affinity with Abe to bolster security and business ties in the face of an assertive China. In pics: Modi Sir's class at a Tokyo school



In his statement, Abe said Japan will invest 35 billion dollars over the next five years in infrastructure and smart cities in India. Japan also promised to double its Foreign Direct Investment in the next five years.



Abe showed a particular interest in Modi's pet project of bullet trains in India, hoping that there will be a Japanese bullet train in Mumbai soon.



India and Japan also signed a deal on joint production of rare earth materials which is used in making electronic goods.

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