Japan is currently supporting the development of India’s urban infrastructure, as well as a high-speed railway based on Japan’s shinkansen bullet train technology.

Japanese Prime Minister Fumio Kishida is expected to announce a plan to invest 5 trillion yen (USD 42 billion) in India over the next five years during his visit to the country on Saturday, according to a media report.

The 5 trillion yen target exceeds the 3.5 trillion yen in investment and financing over the five years announced by then-Japanese Prime Minister Shinzo Abe during his 2014 visit to India, Japan’s Nikkei newspaper reported.

Japan is currently supporting the development of India’s urban infrastructure, as well as a high-speed railway based on Japan’s shinkansen bullet train technology.

Prime Minister Kishida announces public-private funding at an economic forum. He is expected to pledge growth in direct investment in terms of value, as well as an increase in Japanese companies expanding into India, the leading business newspaper said.

Kishida is also ready to agree to a loan of about 300 billion yen during his meeting with Prime Minister Narendra Modi. The two sides are expected to sign an energy cooperation document on carbon reduction.

At Saturday’s public-private forum, Kishida is also expected to show his support for further infrastructure development in India with the aim of encouraging Japanese companies to build factories, the paper said.

India represents the first leg of Kishida’s three-day tour. He will visit Cambodia on Sunday to meet Prime Minister Hun Sen.

Japan and India are parties to the Quadrilateral Security Dialogue, a security framework known as the Quad that includes the US and Australia. Cambodia is this year’s president of the Association of Southeast Asian Nations.

Kishida plans to confirm strengthening security arrangements with Russia’s invasion of Ukraine in mind.

In 2020, Japan and India signed a readmission and cross-service agreement, enabling reciprocal supply of food, fuel and other supplies between the Indian military and Japanese self-defense forces. Kishida and Modi must reaffirm that they will go through with that deal, the newspaper said.

Kishida and Modi are expected to convene a two-plus-two meeting between the diplomatic and defense chiefs of the two countries at an early stage.

This will be Kishida’s first overseas trip as Prime Minister since traveling to Britain in November.

Kishida, 64, has been the chairman of the Liberal Democratic Party since 2021.


This post Japan offers India USD 42 billion in investment during Kishida’s visit: report was original published at “https://www.financialexpress.com/economy/japan-to-offer-india-usd-42bn-in-investments-during-kishidas-visit-report/2465352/”

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