TOKYO: Indian Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba signed a new 10-year plan to strengthen their strategic alliance and improve economic and security ties. The historic deal, which was made public during their yearly bilateral conference in Tokyo, sets a new goal for Japan’s private investments in India at 10 trillion yen (about $68 billion) over the next ten years.
Japan is confident in India’s economic potential because the new investment objective is more than double the old one of 5 trillion yen over five years. Ishiba said that Japan will use India’s “massive market” and “vibrancy” to help its own economy flourish. This will encourage cooperation in next-generation transportation, space, and the showpiece Mumbai-Ahmedabad high-speed rail project.
The two leaders also started the Economic Security Initiative, which is a new plan to make sure that supply chains are strong in important and crucial areas including semiconductors, pharmaceuticals, telecom, and rare earths. Neither leader openly talked about the United States in their public comments, but the move comes as both countries deal with the uncertainty caused by the Trump administration’s trade and tariff policies.
At a joint press conference, Prime Minister Modi remarked, “We both agree that our partnership is very important not only for our two countries but also for global peace and stability.” He stressed that the cooperation is based on trust and shared values and is a “common dream of peace, progress, and prosperity.”
The meeting also produced a Joint Declaration on Security Cooperation, which will help them work together to deal with current security issues. The two leaders promised to keep the Indo-Pacific free, open, peaceful, and based on norms. This is a clear allusion to worries about China’s aggressive actions in the area. They said they were “seriously concerned” about the militarization of disputed areas and “unilateral actions that put the safety and freedom of navigation and overflight at risk” in the East and South China Seas.
Other important results from the meeting are:
The Next-Generation Mobility Partnership is focused on high-speed rail, ports, aviation, and shipbuilding. They have promised to speed up development on the bullet train between Mumbai and Ahmedabad.
Human Resource Exchanges: A new action plan will make it easier for 500,000 people to go to Japan over the next five years. The main goal is to recruit 50,000 talented Indians to Japan to help with its economy and fill its job openings.
Space and Technology: ISRO and JAXA signed a deal to work together on the Chandrayaan-5 project. Both sides have started a new AI Cooperation Initiative to encourage working together on innovative technologies.
Prime Minister Ishiba said that their countries complement each other and that “Japanese technology and Indian talent are a winning combination.” He claimed that this alliance would help both countries deal with their problems and make the world a safer place.
After visiting Japan, Prime Minister Modi will go to Tianjin, China, for the Shanghai Cooperation Organization (SCO) Summit on Sunday.