India Japan Economic Ties— External Affairs Minister S. Jaishankar announced a significant milestone in India-Japan economic relations, revealing an ambitious investment target of USD 42 billion (Yen 5 trillion) by 2027. Addressing the press in Tokyo, Jaishankar highlighted the deepening economic collaboration between the two nations under the leadership of Prime Minister Narendra Modi.
Investment Target and Development Highlights
Jaishankar emphasized the remarkable progress India has made over the past decade, reflecting on the robust infrastructure and economic growth:
- Airports: India has built an average of 8 new airports every year.
- Metros: The country has established 1.5 to 2 new metro systems in different cities annually.
- Highways: Construction of 28 kilometers of highways every day.
- Railways: Laying 8 kilometers of railway tracks daily.
- Education: The number of educational institutions has doubled, contributing to the establishment of 1,600 global capability centers generating exports worth over USD 100 billion annually.
Jaishankar’s reflections underscore the transformative growth in India, positioning it as a lucrative destination for Japanese investments.
Historical Ties and Quad Participation
Jaishankar, a seasoned diplomat with three decades of experience in India-Japan relations, remarked on the enduring partnership between the two countries. “India-Japan relations have come a very long way, especially since 2014,” he said. His participation in the Quad foreign ministers’ meeting, alongside Japan’s Yoko Kamikawa, Australia’s Penny Wong, and US Secretary of State Antony Blinken, further underscores the strategic importance of these ties.
Japanese Businesses in India
The minister also highlighted the presence of 1,400 Japanese businesses operating in India, expressing a desire to see this number grow significantly. He stated, “We have an investment target of Yen 5 trillion, that is USD 42 billion by 2027 in India.”
Jaishankar’s statements reflect a shared commitment to strengthening economic cooperation, fostering mutual growth, and solidifying India-Japan relations in the coming years.
Conclusion
The ambitious investment target and the extensive development in India’s infrastructure signify a promising future for India-Japan economic ties. With continued collaboration, both nations are set to benefit from enhanced trade, investment, and strategic partnerships, driving forward a new era of economic prosperity.
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