Japan to double investments in India, pledges 3.5 trillion yen boost

In a series of defining steps that will pitchfork India-Japan economic relations into a higher trajectory, Asia’s second and third largest economies will jointly work towards doubling Japanese foreign direct investment (FDI) and the number of Japanese companies in India within the next five years.

India’s Prime Minister Narendra Modi and Japan’s Prime Minister Shinzo Abe, who held wide-ranging talks in Tokyo on September 1, announced the formation of India–Japan Investment Promotion Partnership to take expanding bilateral trade relationship to the next level.

Under this investment partnership, which has the potential to be a game-changer in India’s quest for world-class infrastructure, Japan will give around 3.5 trillion yen ($33 billion) of public & private investments, including Overseas Development Assistance, to India in a five year period.

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Modi embraces Kyoto smart heritage city model for Varanasi

Varanasi, the holy Hindu city which Modi represents in the Indian parliament, will be developed as a ‘smart city’, using the experiences of Kyoto. Kyoto, home to over 2000 Buddhist temples and Shinto shrines, is renowned for its ability to merge the modern with the ancient, and is symbolic of the development of Japan – where cutting edge technology is used to preserve their historic legacy. The Kyoto-Varanasi pact has set the stage for rekindling civilizational ties between India and Japan, which will deepen the spiritual foundation for the burgeoning multi-pronged modern-day partnership.

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‘Japan is India’s all-weather friend, China needn’t worry’

Prime Minister Narendra Modi’s August 30-September 3 visit to Japan is laden with great expectations and hopes of substantive outcomes, which can transform the geopolitical dynamics of Asia. In this conversation with www.indiawrites.org, Sanjaya Baru, a well-known commentator on foreign affairs and Senior Fellow, Centre for Policy Research, speaks about the unique character of India-Japan relations, Japan’s starring role in the development of India and his expectations from the forthcoming visit of Prime Minister Modi’s visit to Japan. Baru, the author of The Accidental Prime Minister and Director of Geo-economics and Strategy at the International Institute of Strategic Studies, predicts a robust future of India-Japan relations and underlines that Japan is and will be India’s all-weather friend in days to come.

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