Japan to Announce $68 Billion Investment in India Amid Strategic Partnership
Japan plans a significant 10 trillion yen investment in India, reinforcing economic ties during PM Modi's visit. This move aims to boost Indo-Pacific cooperation against China's influence. Key areas of focus include AI, semiconductors, and clean energy, mirroring the evolving economic landscape.
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The Japanese government is strategizing a substantial investment of 10 trillion yen in India, equating to approximately USD 68 billion, as part of Prime Minister Narendra Modi's forthcoming visit. This initiative seeks to invigorate the Indo-Pacific alliance against a backdrop of regional tensions fueled by a more assertive China.
Sources suggest the investment target will feature in a joint statement during summit discussions between Japanese Prime Minister Shigeru Ishiba and Modi. This visit, marking Modi's return to Japan since May 2023, symbolizes an evolving partnership, underscored by past summits.
Previously set at 5 trillion yen during former PM Fumio Kishida's 2022 India visit, this increased investment focuses on public and private sectors, with a new cooperative framework in economic security under consideration. Key discussion areas will include semiconductors, essential minerals, and artificial intelligence, aligned with the proposed AI cooperation initiative.
(With inputs from agencies.)
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