Japan to Invest in Bullet Trains, Ganga Clean-up: Top 10 Takeaways

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Tokyo:  Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe held wide-ranging talks today to enhance cooperation in defence, civil nuclear and infrastructure development.
Here are the top 10 takeaways from the talks

  1. India’s bullet train project will receive financial, technical and operational support from Japan.
  2. Japan will invest $33 billion in five years in India, a chunk of which will go into PM Modi’s pet projects for cleaning up the river Ganga and for developing smart cities.
  3. Japan will invest substantially in the Metro project in Ahmedabad in Mr Modi’s Gujarat.
  4. The two countries decided to set a target of doubling Japan’s foreign direct investment and the number of Japanese companies in India within five years.
  5. Japanese “Industrial Townships” and other townships will be set up with investment incentives for companies.
  6. PM Modi has announced a special team in his office to facilitate Japanese investment in India.
  7. Partnership city arrangement between Varanasi, PM Modi’s constituency in Uttar Pradesh, and the historic Kyoto city.
  8. Japan has agreed to remove six of India’s space and defence-related entities from its Foreign End User List.
  9. There will be public-private initiatives to set up Electronics Industrial Parks in India and Japan. 
  10. Enhanced participation in student exchange programmes.India will promote Japanese language education. The two countries have discussed a big push for collaboration in information technology.

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