'$42 billion over the next 5 years': Japan's investment plans for India

Japan has decided to invest $42 billion or ₹3.2 lakh crore in India over the next five years, Prime Minister Modi announced on Saturday after holding a meeting with Japanese Prime Minister Fumio Kishida in Delhi.

The two sides inked six agreements providing for the expansion of bilateral cooperation in a range of areas, besides firming a separate clean energy partnership.

At a joint media briefing, Modi said deepening India-Japan ties will not only benefit the two countries but will also help in encouraging peace, prosperity and stability in the Indo-Pacific region.

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Modi said India and Japan understand the importance of a secure, trusted, predictable and stable energy supply and that both sides are determined to expand overall cooperation.

It was Kishida’s first visit to India after taking over as PM from Shinzo Abe in 2021.