India: Japan Aims To Invest $42 Billion Over Next 5 Years In India, PM Modi

NEW DELHI, 20 March 2022, (TON): Japan aims to invest $42 billion over the next five years in India, Prime Minister Narendra Modi said after a bilateral meeting with his Japanese counterpart Fumio Kishida in Delhi this evening.

PM Modi announced "Japan will raise its investment target in India to an ambitious 5 trillion yen or ₹ 3.2 lakh crore ($42 billion) over the next five years.”

Mr Kishida, accompanied by a high-level delegation, arrived in Delhi for the 14th India-Japan Annual Summit at around 3:40 pm on his first visit to India as the head of the Japanese government.

The two sides inked six agreements providing for the expansion of bilateral cooperation in a range of areas, besides firming a separate clean energy partnership.

At a joint briefing, PM Modi said deepening India-Japan ties will not only benefit the two countries but will also help in encouraging peace, prosperity and stability in the Indo-Pacific region.

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