Japan prime minister Fumio Kishida on Saturday arrived in India to meet Prime Minister Narendra Modi for the 14th India-Japan annual summit. His two-day visit will entail means to strengthen the bilateral, economic and strategic partnership between India and Japan. Union Minister Ashwini Vaishnaw has received Kishida at Palam airport in Delhi.
This is the first time in three and half years a summit is being held between both heads of state since October 2018. Kishida has met PM Modi while holding the post of Japan’s foreign minister. During the meeting, Kishida is expected to announce a five-year investment plan worth $42 billion in India, Japanese news agency Nikkei reported.
Kishida is also likely to sanction a $2.5 billion loan during his meeting with PM Modi, the news agency further reported. Earlier, PM Modi and former Japanese PM Shinzo Abe in 2014 agreed on $29.35 billion in public and private investments in India. Kishida is likely to expand it to $41.94 billion during his visit on Saturday.
Urban infrastructure development will also take center stage when both leaders meet on Saturday. The high-speed railway is based on Japan’s shinkansen bullet train technology which is likely to be used for the Mumbai-Ahmedabad High-Speed Rail, Dedicated Freight Corridor, metro projects as well as Delhi–Mumbai Industrial Corridor Project (DMIC) will also be discussed between both leaders.
Neemrana in Rajasthan and Sri City in Andhra Pradesh are cities which have the most number of Japanese companies operating in India. At least 11 Japan Industrial Townships (JIT) have been established all over India. Japan and India are also likely to discuss means of expanding their partnership in the field of 5G, under-sea cables, telecom and network security and information and communications technology.
Japan is India’s fifth-largest source in foreign direct investment (FDI).
The Quadrilateral Security Dialogue (Quad) partners will also discuss the Ukraine issue. Issues related to Chinese actions in the South China Sea and its bid to expand its dominance in the Indo-Pacific may also be discussed between both leaders. Quad also includes the United States and Australia. Kishida is likely to invite PM Modi to attend the second in-person summit of Quad leaders which is expected to be held sometime between May and June.
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