Japan Will Invest 5 Trillion Yen In The Next Five Years In India: PM Modi At India-Japan Economic Forum

PM Modi announced that Japan will be investing 5 trillion yen (USD 42 billion) in India over the next five years.

Prime Minister Narendra Modi and Japanese PM Fumio Kishida at India-Japan Economic Forum. (ANI)

New Delhi: Prime Minister Narendra Modi on Saturday stated that India is dedicated to offering all feasible assistance to Japanese enterprises operating in India, news agency ANI reported.

PM Modi announced that Japan will be investing 5 trillion yen (USD 42 billion) in India over the next five years.

#WATCH Japan will invest 5 trillion Yen or Rs 3.2 lakh crores in the next five years in India, says PM Modi pic.twitter.com/IlpJQbbmAp

— ANI (@ANI) March 19, 2022

The 5 trillion yen target exceeds the 3.5 trillion yen investment and finance aim declared by then-Japanese Prime Minister Shinzo Abe during his 2014 visit to India.

The two presidents saw an agreement exchange between India and Japan. Agreements in the areas of cybersecurity, capacity building, information exchange, and collaboration have been struck.

"Progress, prosperity and partnership are the basis of India-Japan relations. We are committed to providing all possible support to Japanese companies in India," PM Modi said at the India-Japan Economic forum.

Delhi | PM Narendra Modi speaks at the India-Japan Economic Forum

Progress, prosperity and partnership are the basis of India-Japan relations. We are committed to providing all possible support to Japanese companies in India: PM Modi pic.twitter.com/UiXQ0ZuFnY

— ANI (@ANI) March 19, 2022

Following the 14th India-Japan Annual Summit, PM Modi also announced that both countries are working as 'One team- One project' on Mumbai-Ahmedabad high-speed rail corridor.

Speaking about the Russia-Ukraine conflict, Japanese PM Fumio Kishida said, "Both our countries should increase efforts for an open & free Indo-Pacific. Japan, along with India, will keep trying to end the war & keep providing support to Ukraine & its neighbouring countries."

Both our countries should increase efforts for an open & free Indo-Pacific. Japan, along with India, will keep trying to end the war & keep providing support to Ukraine & its neighbouring countries: Japanese PM Fumio Kishida, following the 14th India-Japan Annual Summit pic.twitter.com/NDl1anEmhE

— ANI (@ANI) March 19, 2022

"The whole world has been shaken today due to many disturbances, it's very imp for India & Japan to have a close partnership. We expressed our views, talked about the serious invasion of Russia into Ukraine," he further adds.

(With ANI Inputs)