India, Japan agree to strengthen economic cooperation
On Friday, the leaders of India and Japan agreed to strengthen economic relations and enhance cooperation in key areas such as clean energy and defense, amid shared concerns over China’s expanding influence and U.S. trade tariffs.
Following their summit in Tokyo, Indian Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba agreed on a goal of boosting Japanese private investment in India to about $6.8 billion a year over the coming decade, up from about $2.7 billion a year in the 2010s, News.Az reports citing The Washington Times.
They also agreed to increase exchanges of workers and students to half a million people in the coming five years. The two governments hope India’s young workforce can help address labor shortages caused by Japan’s aging and declining population.
“We believe that Japanese technology and Indian talent are a winning combination,” Modi told a news conference.
The two leaders released a “joint vision” of cooperation for the next decade in areas such as security, defense, clean energy, technology and space, and signed a total of 11 documents.
“As the economies and vibrant democracies of the world, partnership is extremely important not just for our two countries but for global peace and stability as well,” Modi said.
“We need to have to take advantage of each other’s strengths, to bring solutions to our challenges and to help each other,” Ishiba said.
On Sunday, Ishiba will escort Modi on a bullet train to Sendai in northern Japan, for a tour of a factory that makes machinery for producing semiconductors, before the Indian leader flies to China, the next destination of his Asia tour.
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