Kishida visit to India: Japan to offer $42bn in investments
Last updated on March 22nd, 2022 at 01:12 pm
Japanese Prime Minister is visiting India on Saturday in a high-profile visit aimed to further bolster relations between the two nations. During the visit, Japanese PM Fumio Kishida is expected to announce his plans of investing 5 trillion yen or USD 42 billion over a period of next five years in India. This investment plan exceeds the investment and financing plan of 3.5 trillion in the same time frame by the then Prime Minister of Japan Shinzo Abe, announced when he visited India in 2014. The report has been published in the Japanese newspaper Nikkei.
Mr. Kishida is scheduled to reveal public-private funding in India during an economic forum upon his visit to the country. The prominent Japanese newspaper said that the Prime Minister ‘is expected to pledge growth indirect investment in terms of value, as well as an increase in Japanese companies expanding into India”. During his meeting with his Indian counterpart Prime Minister Narendra Modi, Japanese PM Fumio Kishida is prepared to agree to a loan of approximately 300 billion yen. “An energy cooperation document concerning carbon reduction is expected to be signed between the two sides,” the newspaper further said.
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Currently, Japan is supporting and assisting India’s urban infrastructure development along with a high speed railway that is based on Japan’s world-renowned shinkansen bullet train technology.
The Japanese newspaper further said that during the public-private forum scheduled for Saturday, Prime Minister Kishida is also expected to communicate his support for further development of infrastructure in India, with the objective of bringing in Japanese companies to set up factories and facilities in India.
Japan and India are part of a security framework called Quad (Quadrilateral Security Dialogue) along with Australia and the United States. Kishida is on a three-day tour, with India being the first leg of his trip.
