Indo-Japan Summit: Govt Signs MoU in Defence

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New Delhi: India and Japan signed four agreements today after the bilateral summit between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe. The Japanese Prime Minister is on a three-day visit to India, the highlight of which will be his trip to PM Modi’s constituency, Varanasi, this afternoon.

Indian Prime Minister Narendra Modi signed some agreements in this summit. The agreements included a civil nuclear pact, India’s first bullet train and a transfer of defence equipment and technology.

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“No friend will matter more in realising India’s economic dreams than Japan Prime Minister Shinzo Abe,” PM Modi said. “He has been prompt and positive on our economic proposals many of which are now unique to India.”

Bullet trains, PM Modi said, “will revolutionise Indian Railways, and will become the engine of economic transformation in India”. “We greatly appreciate PM Abe’s package of $12 billion and technical assistance on easy terms for the bullet train project,” he added.

The Rs. 98,000 crore bullet train networks will link Mumbai and Ahmadabad and is expected to cut travel time on the 505-km route from 8 to around 3 hours. This morning, the two leaders met a group of top business leaders from both countries India-Japan Business Leaders Forum.

PM Modi said for the first time, Japan will import cars from India. “Maruti (Suzuki) will manufacture here. The Japanese company will manufacture here and export it to Japan,” he said, adding that both India and Japan should move ahead together, not just in the sphere of high-speed trains, but also for “high-speed growth.”

“Today, there is a ‘Make in India’ movement in Japan,” the Prime Minister further said. “I have been told that $11-12 billion fund has been earmarked for it. This clearly indicates how both the countries can move forward,” he said.

PM Abe said a “strong India is good for Japan and a strong Japan is good for India,” and praised PM Modi’s economic policies, saying they were “safe and reliable like Shinkansen-high speed trains.”

After the summit meeting, the two leaders will leave for Varanasi, PM Modi’s Lok Sabha constituency, where they will attend Ganga aarti at the famous Dasaswamedh Ghat.

Soon after his arrival on Friday afternoon, the Japanese Prime Minister addressed the Japan-India Innovation seminar. “Indo-Japanese relations will contribute to peace and prosperity in Asia and the world,” he had said.

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