Modi Visits Japan, Finalizes Japan-India Investment Plan
Indian Prime Minister Narendra Modi embarked on a two-day visit to Japan on the 29th, marking his first meeting and bilateral talks with Japanese Prime Minister Shigeru Ishiba. The two leaders exchanged views on comprehensive future cooperation and regional affairs. This visit also marks Modi’s return to Japan following the G7 summit held in Hiroshima in May 2023.
On the first day of his visit, Modi attended the Japan-India Economic Forum and later held a 1.5-hour meeting with Prime Minister Ishiba at the Prime Minister’s Office. During the meeting, the two sides agreed to revise the “Japan-India Joint Declaration on Security Cooperation” originally signed in 2008, adding more detailed content on defense collaboration to strengthen bilateral defense ties. They also reached a consensus under the “Economic Security Cooperation Initiative” to promote technological cooperation in various fields such as semiconductors, artificial intelligence (AI), critical minerals, and the tech industry.
Japan plans to invest approximately 10 trillion yen in India’s private sector over the next decade. The two countries will also promote bilateral exchanges exceeding 500,000 people within five years, including increased recruitment of Indian talent. This initiative aims to address Japan’s projected shortage of 570,000 caregivers by 2040, helping to support the needs of its aging society and fostering a mutually beneficial partnership.
One of the highlights of the talks was the agreement to jointly build India’s first high-speed railway. The line will connect Mumbai with the industrial city of Ahmedabad, stretching around 500 kilometers. Initially agreed upon in 2015 by former Japanese Prime Minister Shinzo Abe and Modi, the project was originally scheduled to begin operations in 2023 but was delayed to 2029 due to land acquisition issues and the COVID-19 pandemic. The project, with an estimated cost of 1.8 trillion yen, will involve Japanese experts providing support in construction and workforce training.
On the 30th, Modi is scheduled to ride the Shinkansen for an on-site inspection of the test train and visit a semiconductor manufacturing plant to gain a deeper understanding of the relevant technologies.
After concluding his visit to Japan on the 30th, Modi will travel to China to attend the Shanghai Cooperation Organization (SCO) summit, where he is expected to meet with Chinese President Xi Jinping and Russian President Vladimir Putin. Modi’s East Asia tour is widely seen as a strategic effort to strengthen multilateral alliances.
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