How will Shinzo Abe's two-day visit to India further shape New Delhi's ties with Japan? BS brings you the details
Japanese Prime Minister Shinzo Abe arrived this week in Prime Minister Narendra Modi's home state of Gujarat for what was the tenth meeting between the two leaders since Modi came to power in 2014.
The centrepiece of the visit has been the Mumbai-Ahmedabad high-speed rail project. Modi-Abe laid the foundation stone for the bullet train in Ahmedabad on Thursday, with the former lauding Japan as India's friend for having extended a Rs 88,000 crore loan at just 0.1 per cent interest.
Further cementing their bilateral ties, India and Japan on Thursday also signed 15 memorandums of understanding (MoUs), which dealt with wide-ranging issues such as bilateral relations, defence and security cooperation, and supporting each other for a permanent seat on the United Nations’ expanded Security Council.
It remains to be seen if the bullet train will prove to be economically viable and whether India and Japan's joint front against China will yield any dividends for either of the nations going ahead.
Read our entire coverage below:
Japanese firms to invest Rs 5 lakh crore in India
While no figure was released on how much Japanese companies planned to invest in India, some sources said it would be around Rs 5 lakh crore, including the flagship bullet train project. One of the more import MoUs was on civil aviation cooperation and open skies. (Read all the details here)
Apart from fresh investment proposals at the summit, Modi claimed Japan’s foreign direct investment (FDI) to India had actually trebled in the past few years, a testimony to the growing economic ties. So far, around $25.7 billion has flown in as FDI from Japan; the plan now is to double this by 2019....Read More
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