PM shows yen for business, says Gaurav C Sawant
Abe also promised to partner India in fulfilling Modi's dream of rejuvenating the Ganga, developing smart cities and enhancing connectivity and development in North-East India.
Signalling an intent to work closely together, Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe on Monday announced to further elevate the India-Japan ties to a 'special' global and strategic level. Tokyo pledged its Asian partner investments worth `2.10 lakh crore ($34 billion) over the next five years.
Reaffirming the importance of civil nuclear cooperation, the two countries also decided to accelerate the negotiations for a deal in this regard. Abe also promised to partner India in fulfilling Modi's dream of rejuvenating the Ganga, developing smart cities and enhancing connectivity and development in North-East India. Japan also offered financial, technical and operational support to introduce the Shinkansen (Bullet Train) in India. The Japanese premier expressed hope that India will introduce the Shinkansen system for the Mumbai-Ahmedabad route.
"I am not only satisfied meeting my friend Prime Minister Abe, but I am also filled with new hope. I am enthusiastic about the future of the ties,'' Modi said at the joint press conference with Abe at the Akasaka Palace in Tokyo.
India and Japan also expressed their commitment to accelerate implementation of flagship projects like the western dedicated freight corridor, Delhi-Mumbai industrial corridor and Chennai-Bangalore industrial corridor. Elaborating on talks with Abe, Modi said India-Japan ties were a win-win for both the countries.
He insisted this relationship was not limited to just economic ties but was spread across the spectrum. When the relationship reaches its full potential, it will benefit not just the people of India and Japan but also have a positive impact on the world, he added.
Both India and Japan have agreed to upgrade their strategic ties with enhanced exchanges and maritime cooperation.
Abe and Modi "recognised the enormous future and potential for transfer and collaborative projects in defence equipment and technology between the two countries. They welcomed the progress made in discussion in the joint working group on cooperation in the US-2 amphibian aircraft and its technology, and directed their officials to accelerate their discussions,'' the joint statement said.
Although the two Asian countries did not seal a civil nuclear deal, they agreed to conclude it in the near future. "They directed their officials to further accelerate the negotiations with a view to concluding the Agreement at an early date and strengthen the two countries' partnership in non-proliferation and nuclear safety,'' the document said.
Modi makes strong case for Japanese investments
Prime Minister Narendra Modi on Monday made a strong pitch for Japanese investment in India announcing the setting up of a special desk in the Prime Minister's Office (PMO) only to facilitate Japanese investment.
Modi also shared his vision for a changing world order. "That 21st century is Asia's century no doubt. But how will it pan out, given there are two 'vistaarvadi' (expansionist) streams and the 'vikasvadi' (progressive) steam," he said.
Without naming China, Prime Minister Modi hit out at the expansionist forces that violate land and sea borders and insisted India and Japan should together lead the forces of progress.
Delivering the keynote address at a business luncheon hosted by Nippon Keidanren, Japan Chamber of Commerce and Industry, Modi asked Japanese investors go by their experience of dealing with his government in Gujarat and see the turnaround of the economy in the past 100 days.
"Ease of governance and single window clearance are my priorities," he said.
He asked the Japanese to name two representatives of their choice to be on board the India-Japan investment team for facilitation of investment. Reassuring the audience in Tokyo, the prime minister said things had changed in the past three months since he took oath of office.
"In the past 10 years, we faced problems. But in the first quarter itself growth jumped to 5.7 per cent as against 4.5 per cent. That mood of depression has gone," Modi insisted. He gave details of how Japanese projects pending with the last government-like the opening of additional branches of the Mizuho Bank and the real earth project-were immediately cleared by his government.
"Being a Gujarati, commerce is in my blood. Money is in my blood. Businessmen do not want concessions. They want a conducive environment and ease of governance," he added. Modi listed areas of seeking Japanese cooperation, especially in the energy sector.
"A country with a population of 125 crore, clean energy is our biggest requirement. We respect nature and need Japan's cooperation for clean energy," he said. Giving details of how his government had changed the rules of the game, he said they permitted 100 per cent FDI in railways, 49 per cent in defence, 100 per cent in infrastructure and promised to change laws and rules for ease of governance.
"India is the youngest country in the world. Sixty-five per cent of our population is under 30 and we need to initiate a drive to map skill requirements in the world and develop those skills to be able to meet the global work force demand by 2020," he explained.