Japan to invest 10 trillion yen in India over next 10 years

Tokyo: Japan on Friday said that ip set a target to invest 10 trillion yen in India over the next decade, as both countries agreed on a comprehensive roadmap to strengthen cooperation in key areas including critical minerals, defence, and technology. The developments come against the backdrop of global economic uncertainty triggered by the Trump administration’s trade and tariff policies.

The announcements on expanding India-Japan special strategic and global partnership were made following summit talks between Prime Minister Narendra Modi and his Japanese counterpart Shigeru Ishiba.

We have set a target of 10 trillion yen investment in India from Japan in the next 10 years, Modi, flanked by Ishiba, said in his media statement.

The prime minister, who landed in Tokyo this morning, said India-Japan cooperation is crucial for global peace and stability, and both sides have laid a strong foundation for a "new and golden chapter" in the partnership. We have created a 10-year roadmap for cooperation in a range of areas, including investment, innovation, and economic security, he said.

In his remarks, the prime minister said India and Japan are fully committed to a free, open, peaceful, prosperous and rules-based Indo-Pacific. Both sides also decided to further strengthen cooperation in the field of the defence industry and innovation.

Concerns of India and Japan regarding terrorism and cybersecurity are the same, Modi said, adding that both sides have shared interests in boosting defence and maritime security.

The India-Japan partnership is rooted in mutual trust, reflects our national priorities and is shaped by our shared values and beliefs, he said. "Strong democracies are natural partners in shaping a better world," he added. 

In his remarks, the Japanese prime minister said both sides need to take advantage of each other's strengths to deal with next-generation challenges.

(With PTI inputs)