India-Japan Summit: Modi and Ishiba agree on Defence upgrade and $68bn Investment pledge

PM Narendra Modi and Japanese PM Shigeru Ishiba met in Tokyo for the 15th India-Japan Summit, announcing $68bn investment and stronger defence ties.

PM Modi Japan Visit, India-Japan Summit

India-Japan Summit: PM Modi met the new Japanese Prime Minister Shigeru Ishiba in Tokyo on Friday, 29 August. After the meeting both leaders came before the press together. Modi said, “I had a productive and purposeful discussion with Japanese Prime Minister Ishiba.”

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This visit is Modi’s first standalone trip to Japan in nearly seven years and also his first Annual Summit with Ishiba. He was welcomed in Tokyo with a Guard of Honour, which showed how important this meeting was for both sides. The main talks happened at the 15th India-Japan Annual Summit, which was the centre of Modi’s two-day official visit.

India-Japan Summit: Talks on defence, Trade and Technology

The discussions between Modi and Ishiba went over many subjects like defence, trade, security, technology and people-to-people ties. They also spoke about important issues in the region and the world, and they agreed that this dialogue was part of their “special strategic and global partnership.”

Japanese officials confirmed that Japan is ready to double its investment in India and bring it to $68 billion over the next ten years. The big focus will be on semiconductors, artificial intelligence, clean energy and robotics. Both sides are also strengthening defence cooperation under the 2008 agreement, which is aimed at making Indo-Pacific security stronger with support from the Quad group.

Work on big projects like the high-speed rail link between Mumbai and Ahmedabad is also a key priority in this partnership.

At the India-Japan Joint Economic Forum, Modi asked Japanese companies to expand more in India.

He told them, “Come, make in India, make for the world,” and said that Japanese skills and Indian strength together could bring new breakthroughs in technology in this century.

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Next stop in China

Apart from the main summit, Modi also met Japanese lawmakers and former Prime Minister Fumio Kishida, calling him a strong supporter of India-Japan friendship.

After finishing his visit in Japan, Modi will go to Tianjin in China on August 31 and September 1. There he will attend the Shanghai Cooperation Organisation Summit, which is hosted by Chinese President Xi Jinping. India became a full member of SCO in 2017, and Modi will join other Eurasian leaders to talk about security, trade and connectivity. Many expect that he will also hold some bilateral meetings with other leaders during the summit.