India and Japan on Monday resolved to further deepen their strategic ties during talks between Prime Minister Narendra Modi and his counterpart Fumio Kishida in New Delhi. The two leaders said their ties are important for a peaceful, stable and prosperous Indo-Pacific, besides benefitting the two countries in diverse areas.
The two leaders also discussed the entire gamut of the ties covering trade and economics besides defence in the summit shortly after Kishida arrived in the national Capital on Monday morning on a nearly 27-hour visit.
The visit came amid the ongoing Ukraine conflict and its adverse impact on the
global supply chains of energy and food. The visit also came against the backdrop of China’s growing assertiveness in the strategically-crucial Indo-Pacific region.
Kishida pledged $75 billion plan to promote an open and free Indo-Pacific. The plan he announced is seen as Tokyo’s bid to forge stronger ties with countries in South and Southeast Asia to counter China’s growing assertiveness there. “We plan to expand the cooperation of the free and open Indo-Pacific framework,” Kishida told the Indian Council of World Affairs.
In his media statement, Modi referred to India’s presidency of the G20 and Japan chairing the G7 grouping, and said it is the best opportunity to work together on priorities of both sides for global good. Modi said he briefed Prime Minister Kishida extensively about priorities of the Indian presidency of G20.
Prime Minister Modi said the India-Japan special strategic and global partnership is based on the democratic principles and respect for international rule of law and that it is important for the Indo-Pacific as well.
Modi said both sides also discussed the importance of reliable supply chains for semiconductors and other critical technologies.
Modi said the two sides reviewed progress in bilateral relations especially in areas of defence, digital technology, trade and investment and health among others.
Kishida on Monday announced a new plan to promote an open and free Indo-Pacific, promising billions of dollars in investment to help economies across the region in everything from industry to disaster prevention. The plan he announced is seen as Tokyo’s bid to forge stronger ties with countries in South and Southeast Asia to counter China’s growing assertiveness there.
Kishida said Tokyo’s economic cooperation with New Delhi continues to grow rapidly and it will not only support further development of India but create significant economic opportunities for Japan.
The Japanese Prime Minister said he formally invited Modi for the G7 summit in May and that his Indian counterpart accepted the invite.
During his visit to India in March last year, Kishida announced an investment target of five trillion Yen (Rs 3,20,000 crore) in India over the next five years.
India-Japan relations were elevated to ‘Global Partnership’ in 2000, ‘Strategic and Global Partnership’ in 2006, and ‘Special Strategic and Global Partnership’ in 2014. Regular annual summits have been held between the leaders of the two countries since 2006.
Japan is a very close partner of India with which it has an annual summit and ‘2+2’ foreign and defence ministerial dialogues.
Last year, Modi and Kishida met three times. Kishida visited India for the 14th annual summit in March and Modi visited Tokyo in May for the Quad Summit and in September for the State funeral of former Prime Minister Shinzo Abe.
Defence and security cooperation has emerged as one of the most important pillars of the special strategic and global partnership and an important factor in ensuring peace and stability in the Indo-Pacific region.
The bilateral trade between the two sides stood at $20.75 billion last year, which was the largest ever. India and Japan have had a Comprehensive Economic Partnership Agreement (CEPA) since 2011. The agreement covers not only trade in goods but also services, movement of natural persons, investments, intellectual property rights, custom procedures and other trade related issues.
Meanwhile, Modi gifted a sandalwood Buddha statue encased in a ‘kadamwood jali box’ to Kishida. The artwork is associated with the rich heritage of Karnataka.