Improve business environment to realise investment target: Kishida tells Modi

New Delhi: Japanese Prime Minister Fumio Kishida on Saturday urged Prime Minister Narendra Modi to improve the business environment in India to realise the 5 trillion yen investment target.

Kishida conveyed this to Modi during a bilateral meeting on the sidelines of the G20 Summit here, Japanese officials said.

According to the officials, Kishida stated that Japan-India relations have steadily progressed in recent years and called for cooperation in improving the investment environment in India toward the realisation of the five trillion yen target of public and private investment and financing from Japan to India in the next five years, which was set in March last year.

Both the leaders welcomed the provision of a 400 billion yen loan for the high-speed rail construction project in India, which is underway, they said. "Held productive talks with PM Kishida. We took stock of India-Japan bilateral ties and the ground covered during India's G20 Presidency and Japan's G7 Presidency. We are eager to enhance cooperation in connectivity, commerce and other sectors," Modi said on X.

Modi said India and Japan were eager to enhance cooperation in connectivity, commerce and other sectors.

Kishida also congratulated Modi on the historic success of the landing of Chandrayaan-3 on the Moon.

The two leaders concurred to work together in such areas as maintaining and strengthening a free and open international order based on the rule of law as well as in the field of advanced technology, including space, the Japanese officials said.

In a statement, the Ministry of External Affairs (MEA) said the leaders acknowledged the constructive dialogue of the two countries throughout the year on their priorities for their respective G20 and G7 presidencies, particularly in bringing the concerns and aspirations of the Global South to the fore.

The leaders held discussions on various facets of the India-Japan bilateral partnership, including on infrastructure development, technological collaboration, investments and energy, it added.

Both the leaders reaffirmed their commitment to further deepening the India-Japan Special Strategic and Global Partnership, the MEA statement said.