Japan aims to invest $42 billion over the next five years in India, Indian Prime Minister Narendra Modi said after a bilateral meeting with his Japanese counterpart Fumio Kishida in Delhi this evening. “Japan will raise its investment target in India to an ambitious 5 trillion yen or ₹ 3.2 lakh crore ($42 billion) over the next five years,” announced PM Modi.
Mr Kishida, accompanied by a high-level delegation, arrived in Delhi for the 14th India-Japan Annual Summit at around 3:40 pm on his first visit to India as the head of the Japanese government.
The two sides inked six agreements providing for the expansion of bilateral cooperation in a range of areas, besides firming a separate clean energy partnership.
At a joint briefing, PM Modi said deepening India-Japan ties will not only benefit the two countries but will also help in encouraging peace, prosperity and stability in the Indo-Pacific region.