PM Modi In Japan

Table of Contents

PM MODI’S 2018 OCTOBER JAPAN VISIT

13th India-Japan annual summit It was PM Modi’s 12th meeting with Abe since he first visited Japan as prime minister in September 2014

JAPAN AND INDIA

While Japan has been one of the biggest sources of investment flows into India, accounting for $28.16 billion in FDI between April 2000 and June 2018 Japanese FDI in India in fiscal year 2016-17 was US $ 4.7 billion, an increase of 80% over the last year. Japan is the third largest foreign investor in India.
Trade is low between the two countries In the Financial Year (FY) 2016-17, India-Japan trade reached US$ 13.61 billion, showing a decrease of 6.21% over FR 2015-16, when the total bilateral trade was US$ 14.51 billion. India’s export to Japan for 2016-17 was US$ 3.86 billion; whereas India’s Import from Japan for 2016-17 was US$ 9.76 billion.

JAPAN AND INDIA

Trade between Japan and India is low despite the Comprehensive Economic Partnership Agreement (CEPA) – 2011
The CEPA envisages abolition of tariffs on over 94% of items traded between India and Japan over a period of 10 years.

JAPANESE LOANS

Japan has been extending bilateral loan and grant assistance to India since 1958 and is its largest bilateral donor. Of the funds invested by Japan in India in the last five years, $90 billion has gone into the Delhi-Mumbai Industrial Corridor, which will see new towns, industrial parks, ports and airports alongside the 1,483-km highspeed rail and road line being developed between two of India’s top cities.
Japan is also backing the Mumbai-Ahmedabad High-Speed Rail (bullet train) service and has released the first tranche of Rs 5,500 crore. A pact for the second tranche was inked Monday.
Approximately 81% of the cost of the project is to be funded through a soft loan from Japan’s government.
Discussions have also taken place on the Dedicated Freight Corridor, a project of close to Rs 50,000 crore of which Japanese assistance has been of about Rs 38,000 crore

POSSIBLE JAPAN INDIA PARTNERSHIP

Another new area where India is likely to make a pitch is for greater synergy or integration between the Ayushman Bharat project and the Japanese programme called Asia Health and Wellbeing Initiative, including how to leverage Japan’s strengths in areas such as medical equipment and hospitals.

PM MODI IN JAPAN 2018

I Hear Japanese Investors Will Put Money in India: PM Modi We both agree that from digital partnership to cyberspace, health, defence, ocean to space, in every field we will strengthen our partnership. I have been told that today Japan investors have announced that they will invest 2.5 billion US dollars in India. – PM Modi

Tokyo also expressed its position in favour of India’s full membership of the Nuclear Suppliers Group. PM MODI IN JAPAN There were other significant discussions which will take the partnership and Indo-Japan relations on a new and higher ground.

These are:

Agreement to produce rare earth materials
Sale of US-2 Amphibian Aircraft proposed
Accelerating steps to clinch early civil nuclear deal etc.

ELEVATED DIALOGUE

PM Modi and Mr Abe agreed to initiate 2+2 dialogue involving their foreign and defence ministers.

MOUNT FUJI

The formal summit between Modi and Abe came a day after the two prime ministers spent about eight hours together at a picturesque resort near Mount Fuji in Yamanashi prefecture discussing ties between the two countries and ways to deepen strategic dimension of the bilateral relationship.
It is a dormant stratovolcano that last erupted in 1707–1708. Mount Fuji lies about 100 kilometres (60 mi) south-west of Tokyo and can be seen from there on a clear day Honshu Island

MENTION OF PAKISTAN

They called upon Pakistan to bring to justice the perpetrators of terrorist attacks, including those of November 2008 in Mumbai and January 2016 in Pathankot “They looked forward to strengthening cooperation against terrorist threats, including from Al-Qaida, Islamic State, Jaish-e-Mohammad, Lashkar-e-Taiba, and their affiliates,” the statement added.