Modi: our partnership is important for world

Modi: our partnership is important for world

Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba have underscored the strategic importance of the India-Japan partnership, with Modi stating that the two nations aim to shape the Asian Century together. The two-day visit, which took place before Modi's trip to China, saw Japan unveil a plan to invest 10 trillion yen ($68 billion) over the next decade, targeting key sectors such as artificial intelligence, semiconductors, and critical minerals [1].

The bilateral trade between the two nations stands at over $20 billion annually, with Japan's investments in India growing significantly. Japan is India's fifth-largest source of foreign direct investment (FDI), with cumulative investments amounting to $43.2 billion up to December 2024 [2]. The investment focus areas include digital cooperation, clean energy, and skill development, with Modi and Ishiba likely to launch an economic security initiative in these sectors.

The visit also saw an agreement to double the number of Indians with specialized skills working or studying in Japan to 50,000 over the next five years. Additionally, the two leaders are expected to upgrade their 2008 declaration on security cooperation and review progress in defense and technology transfers [2].

The high-speed rail project between Mumbai and Ahmedabad, a flagship initiative symbolizing advanced technology transfer and skill development, is also set to gain momentum. Japan's involvement in this project is a key aspect of the bilateral mobility partnership encompassing railways, roads, and bridges across India [2].

The visit comes at a time when both nations are navigating the complexities of global trade dynamics, including tariffs imposed by the U.S. and uncertainties about U.S. security commitments in the Indo-Pacific region. The India-Japan partnership is seen as a bulwark against China, with both nations coordinating closely with the U.S. and Australia through the Quad alliance [1].

Modi's visit to Japan is part of a broader strategy to strengthen ties with key Asian partners as he prepares to attend the Shanghai Cooperation Organisation summit in China. The visit is expected to foster a thaw in relations between the two most populous nations, which have been intense rivals competing for influence across South Asia and have had a deadly border clash in 2020 [1].

References:
[1] https://www.nbcrightnow.com/national/modi-says-india-japan-to-shape-the-asian-century/article_6611fbc8-239c-57c6-9993-03290cc61f6d.html
[2] https://indianexpress.com/article/explained/overview-of-india-japan-relationship-pm-modi-10217535/