Japan PM Fumio Kishida announces $42 billion investment in India

WION Web Team
New Delhi, India Updated: Mar 19, 2022, 09:39 PM(IST)

Indian Prime Minister Narendra Modi speaks during a joint news conference with Japanese Prime Minister Fumio Kishida, at Hyderabad House in New Delhi, India, Photograph:( Reuters )

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Japan in recent years has supported India's urban infrastructure development and the high-speed railway based on its bullet train technology

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.

A joint statement pointedly "underlined that the Quad must remain focused on its core objective of promoting peace, stability, and prosperity in the Indo-Pacific region".

Kishida's office quoted him saying before meeting Modi that "Russia's aggression against Ukraine is an outrage that undermines the very foundation of the order of the international community, including Asia".

"Such unilateral changes to the status quo are also absolutely unacceptable in the Indo-Pacific region. During this overseas trip (to India and Cambodia) I will engage in exchanges of views with my counterparts about the situation in Ukraine and other matters and urge them to take action," Kishida's office tweeted.

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Unlike fellow members of the Quad alliance, Japan, Australia and the United States, India has abstained in three UN votes condemning Moscow's actions, calling only for a halt to the violence.

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.

This year also marks the 70th anniversary of the establishment of diplomatic relations between the two countries.

The annual summit between Prime Minister Modi and his then Japanese counterpart Shinzo Abe was cancelled in December 2019 in Guwahati in the wake of massive protests rocking the Assam capital over the amended citizenship law.

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.

(With inputs from agencies) 

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