Tokyo, Aug 29: Japan on Friday set an investment target of 10 trillion yen (approx Rs 60,000 cr) in India over a decade and the two sides sealed a raft of big-ticket pacts, including a framework for defence ties and a 10-year roadmap to largely boost economic partnership — decisions that came amid turbulence triggered by Washington’s trade policies.
The new measures to further expand India-Japan special strategic and global partnership were unveiled following summit talks between Prime Minister Narendra Modi and his Japanese counterpart Shigeru Ishiba.
The two sides firmed up 13 key pacts and documents and announced the launch of several transformative initiatives, including an economic security architecture to promote supply chain resilience in strategic sectors such as semiconductors, clean energy, telecom, pharmaceuticals, critical minerals and new and emerging technologies.
Of the agreements, one relates to promoting mobility of 50,000 skilled and semi-skilled personnel from India to Japan in the next five years, while another agreement will advance collaboration in digital public infrastructure.
The 10-year roadmap features several key pillars such as economic security, mobility, ecological sustainability, technology and innovation, health, people-to-people exchanges and engagements between Indian states and Japanese prefectures.
Another key pact was to advance cooperation in supply chain resilience for critical minerals, including through the development of processing technologies, joint investments for exploration and mining and efforts for stockpiling critical minerals. A separate declaration was sealed for promoting projects on hydrogen and ammonia. (PTI)
