Korea: The expectations of several was fulfilled on Monday when Japanese Government agreed to invest Rs 2.03 lakh crore in India.
The money will also be available for PPP (Public Private Partnership) projects.
The Prime minister of India Narendra Modi left for his first five day bilateral visit to Japan on Saturday to meet his Japanese counterpart Shinzo Abe.
The number of Japanese companies in India and the FDI (Foreign Direct Investment) of Japan will be doubled within next 5 years as per the target set by India and Japan.
The funds provided by Japanese Government will be available for use in field of manufacturing, water security, food processing and agro industry, rural development and other PPP projects.
The joint statement issued by both Prime Ministers' on Monday stated 'The two prime ministers ... affirmed their shared commitment to maritime security, freedom of navigation and overflight, civil aviation safety, unimpeded lawful commerce, and the peaceful settlement of disputes in accordance with international law.'
Both nations are also pacing up the talks on sale of an amphibious Japanese Aircraft to India. As Japan has not made any international military sale since past 50 years, this can be one of the historic deals.
Both nations have also initiated talks on defence equipment and technology cooperation. The officials of both departments will carry on the talks. They also talked about research on Sickle Cell Aneamia.
Highlights of Narendra Modi's 5-day visit to Japan: What does Japanese government have to offer to India?
A special team at PM Narendra Modi's office will keep a track of investments from Japan. Modi had said 'Two nominees selected by Japan will also be part of this decision-making team, which will evaluate the business proposals.'
The money funded by Japan to India will also be used for ODA (Official Development Assistance) for next five years. It will be used in infrastructural projects and building of smart cities in the country under India-Japan Development Investment, Promotion Partnership.
Japan has shown interest in providing technical, financial and operational support to launch bullet trains in India.
Both nations are also moving forward on a nuclear deal. PM Modi told 'We have asked officials at our end to take it forward so that there can be strategic co-operation on the issue.'
Japanese Prime Minister Abe Shinzo has also agreed to have come to a better understanding after the discussions on defence equipment agreement.
Japan has also agreed to participate in regular maritime drills. On the other hand, India has given its word to promote Japanese language education and asked for suggestions from its counterpart.
After discussing the energy alternates, both nations have come to an understanding to procure LNG (Liquified Natural Gas) and clean coal technology. Countries are also looking forward to upstream development of oil and gas.
Both nations signed the pact to turn Varansi district of Uttar Pradesh into 'smart city' in no time. The project will be carried forward with the experience of Kyoto from Japan.
Image: Reuters picture show Indian Prime Minister Narendra Modi shaking hands with Japanese counterpart Shinzo Abe.
One of the most important issue remains the 'Clean Ganga' project. According to reports, Modi discussed the cleaning of river Ganga with Shinzo. Modi has asked Japan for suggestions to help India overcome the situation.
Posted by Unknown on Monday, September 1, 2014 - Rating: 4.5
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