During the visit of India Prime Minister Narendra Modi to Japan, the Japanese government promised to invest $68 billion in India so that relations between India and Japan become more friendly. The Japanese Prime Minister Shigeru Ishiba wants to maintain friendly relations with India. He believes that India’s huge market will be a unique potential market for Japan’s economic growth.
The current bilateral trade volume between the two countries is over $20 billion which is very important for Japan. The two countries also signed agreements and commitments to strengthen security cooperation. A senior Japanese official said both sides have agreed to expand the scope of cooperation between the Self-Defense forces of India and Japan.
The Japanese government expressed concern over the situation in the East China Sea and the South China Sea in a statement and advised the two countries to act together in view of the international situation and to maintain geopolitical peace and stability. Modi also pledged to work together with Japan for peaceful prosperity and peace in the Indo-Pacific region. Moreover both the countries are affected by the tariffs imposed by US President Donald Trump, with 50% tariffs on India and another 25% on Japan.
For this reason, the Indian government is now taking strong steps to strengthen trade ties with Asian countries, in light of which the Japanese government pledged to invest $68 billion in India. Experts believe that this will increase investment power among Asian countries and reduce dependence on Western countries.
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