During his two-days visit to New Delhi, Japanese Prime Minister Fumio Kishida will attend the 14th India-Japan Annual Summit and hold bilateral talks with Prime Minister Narendra Modi, in what would be his first visit to India since taking office and amid the ongoing Ukrainian crisis.
The last India-Japan Annual Summit was held in Tokyo in October of 2018.
Kishida's visit to India is significant because western countries have imposed sanctions on Russia for its military action in Ukraine, and major oil-consuming countries are closely monitoring the impact of the Ukrainian situation on oil prices.
Within the framework of their "Special Strategic and Global Partnership," India and Japan enjoy a multifaceted partnership.
The Summit will give both sides the chance to review and strengthen bilateral cooperation in a variety of areas, as well as exchange views on regional and global issues of mutual interest, in order to further their partnership for peace, stability, and prosperity in the Indo-Pacific region and beyond.
PM Modi had already spoken to PM Kishida on the phone in October 2021, just after the Japanese Prime Minister took office. Both parties underlined their intention to strengthen their "Special Strategic and Global Partnership."
Since Prime Minister Modi's visit to Japan in 2014, both countries made significant progress in implementing numerous key decisions. Shinzo Abe was the Japanese Prime Minister at the time.
There are 1455 Japanese enterprises in India at the moment. There are 11 Japan Industrial Townships (JIT), with Neemrana in Rajasthan and Sri City in Andhra Pradesh housing the most Japanese firms. In addition to being India's top development partner, Japan is the country's fifth largest source of FDI.
Several infrastructure projects, including the Mumbai-Ahmedabad High-Speed Rail Corridor, the Dedicated Freight Corridor, Metro projects, and the Delhi-Mumbai Industrial Corridor Project, are now underway with Japanese aid.
In October 2018, India and Japan agreed a "Digital Partnership." Indian entrepreneurs have currently raised over USD 10 billion from Japanese venture capitalists. India and Japan have also formed a private-sector-led fund-of-funds to invest in Indian technology firms, which has so far raised USD 100 million.
Both sides also cooperate in the sphere of information and communication technology, such as 5G, undersea cables, telecom, and network security.
In addition, progress has been made in the area of skill development. There are now 19 Japan-India Institutes of Manufacturing (JIM) in operation (it was 8 in 2018). These institutes were founded in India by Japanese firms to train qualified people.
Seven Japanese Endowed Courses (JEC) have been established at various colleges, and 220 Indian youngsters have been put as interns in Japan under the "Technical Intern Training Programme (TITP)."
India also signed a "Specified Skilled Workers Agreement" last year. The Japanese side has been holding examinations for nursing care under this scheme since January of this year.
On July 11, 2021, the "Agreement on Reciprocal Provision of Supplies and Services between the Self-Defense Forces of Japan and the Indian Armed Forces (or ACSA)" entered into force, which was signed on September 9, 2020.
Both countries signed a memorandum of understanding on a free, open, and inclusive Indo-Pacific. They signed a "Supplies and Services Agreement (RPSS)" Reciprocal Provision. Meanwhile, the 2 2 ministerial conference was held in November 2019.
At the 2017 Summit, it was also decided to launch the "India-Japan Act East Forum." The goal is to coordinate development projects in areas such as connectivity, forest management, disaster risk reduction, and capacity building in India's northeast.
Several initiatives are now underway in Meghalaya, Tripura, and Mizoram, including the upgrading of roadways.