Japan PM Fumio Kishida announces $42 billion investment in India
Categories: FOREIGN COUNTRIES
Japanese Prime Minister Fumio Kishida on Saturday announced a 5 trillion yen ($42 billion) investment in India over the next five years during a meeting with Prime Minister Narendra Modi in New Delhi."We (Kishida and Modi) confirmed any unilateral change to the status quo by force cannot be forgiven in any region, and it is necessary to seek peaceful resolutions of disputes based on international law," Kishida told reporters after meeting Modi in New Delhi. The two leaders were meeting to strengthen security amid the Ukraine crisis and improve economic ties between the two nations.Japan in recent years has supported India's urban infrastructure development and the high-speed railway based on its bullet train technology.The two leaders were meeting to strengthen security amid the Ukraine crisis and improve economic ties between the two nations.Japan in recent years has supported India's urban infrastructure development and the high-speed railway based on its bullet train technology. Ahead of Kishida's visit, the first by a Japanese premier since 2017, a Japanese foreign ministry official said Tokyo was "aware" of Delhi's "geographical location and historical ties to Russia".Prime Minister Modi had spoken to PM Kishida on phone in October 2021 soon after he assumed office. Both sides expressed a desire to further strengthen the special strategic and global partnership.The summit could not be held in 2020 as well as in 2021 primarily due to the COVID-19 pandemic.In 2014, then-Japanese Prime Minister Shinzo Abe announced 3.5 trillion yen in investment and financing over five years during a visit to India.