Financial Insights

Japan to invest Rs 3.2 lakh crore in India over the next 5 years

Japan has announced that it will invest $42 billion in India over the next 5 years.

Japanese PM Fumio Kishida and Indian PM Narendra Modi met for the India-Japan Annual Summit and the announcement came after both leaders held bilateral talks in the matter. Both sides have inked 6 agreements to provide for improving cooperation in several areas, besides forming a separate clean energy partnership.

At a joint briefing, PM Modi said that deepening ties between both countries will help encourage peace, prosperity and stability in the Indo-Pacific region. Japan has been supporting the urban infrastructure development in India.

This investment is a lot more ambitious than the $33 billion announced by Shinzo Abe, former PM of Japan, in 2014. This year marks the 70th year of the formation of diplomatic relations between both countries.

Highlight by Aman Agarwal.

Related Articles

Back to top button