Japan announces 3.5 trillion yen investment to India

Japan Monday announced public-private investment of 3.5 trillion yen (Rs.2.03 trillion) in India. India and Japan held official talks Monday in the third day of Prime Minister Narendra Mdoi's five-day sojourn to Japan.

"3.5 trillion yen of public & private investment from Japan to India in 5 year period under India-Japan Investment Promotion Partnership," Ministry of External Affairs spokesperson Syed Akbaruddin tweeted.

He said Japan has offered to provide India financial, technical and operational support to introduce 'Shinkansen' (bullet train) system. In defence, Akbaruddin said Japan would remove six of India's space and defence-related entities from Japan's foreign fund user list.

He said the two countries are keen on student exchange programmes. "India-Japan to substantially increase the number of exchange students between as well as to enhance Japanese language education in India," Akbaruddin tweeted. Both countries agreed to "elevate relationship to next level" and discussed "investment promotion partnership".