Shafaqna India: Japan on Thursday announced 129 memorandums of understanding (MoUs), worth Rs 1 lakh crore, with India at a Joint Economic Forum meet in New Delhi as part of the broader bilateral ties between the two countries.
Business leaders from both countries highlighted growing investments in advanced technologies, clean energy and semiconductors.
Addressing the forum in the presence of PM Narendra Modi and Japanese PM Sanae Takaichi, Japan External Trade Organisation (JETRO) Chairman and CEO Ishiguro Norihiko said, “Today, we are pleased to announce 129 MoUs between Japan and India.” He also pointed to growing business confidence among Japanese firms operating in India.
“Japan-India economic relations are now at an unprecedented high level. According to JETRO’s survey, more than 80 per cent of the Japanese companies operating in India are planning to expand their local business going forward,” the JETRO chairman said.
He said the investment momentum between the two countries had accelerated significantly over the past year. “Since the Japan-India Summit meeting held in August last year, investment in India has gained strong momentum, reaching approximately 2 trillion Japanese Yen [$12.4 billion] in new investment over the past year alone,” Ishiguro said.
