India, Japan sign deals on military, train sales, nukes

Earlier on Saturday, India signed a memorandum of understanding (MoU) with Japan on civil nuclear energy.

“I know the significance of this decision for Japan and I assure you that India deeply respects that decision and will honor our shared commitment”, Modi added. After the success of the Metro, it is likely that India will soon have its first bullet train between Ahmedabad and Mumbai with Japan’s support.

Addressing a joint press meet with Abe, Modi said, “No friend will matter more in realising India’s economic dreams than Japan” while describing Abe as “a personal friend and a great champion of India-Japan partnership”.

Abe also said that India has become a very attractive investment destination for Japan.

Kalyani also suggested “review and strengthening” of the CEPA and quick implementation of the India-Japan Social Security Agreement, industry body Confederation of Indian Industries (CII) said in a statement. “Today, there is a Make in India movement in Japan with a $12 billion fund. This shows that the two nations are moving in the right direction”, said Prime Minister Modi at Business Leaders Forum, which was also attended by his Japanese counterpart Shinzo Abe here.

Under the defense deals, both the countries announced that they will share equipment, technology and military information, Reuters reported.

Much before India-Japan relationship was elevated to the strategic level, the film Love in Tokyo, produced in 1966, captured the romantic flavor of the Japanese locales on Indian celluloid and touched the sentimental chord of India’s cine-goers.

A special finance facility of up to 1.5 trillion Yen has been set up by the Nippon Export and Investment Insurance and the Japan Bank for International Cooperation to promote Japanese investments into India. Referring to the agreement, Prime Minister Narendra Modi said, “No less historic is the decision to introduce high-speed rail on the Mumbai-Ahmedabad sector through Shinkansen known for speed, reliability and safety”.

“Make in India” is proceeding in mission mode, not just in India, but also in Japan, he said.

He also praised Abes views on India-Japan ties and “the rich potential & cultural bond”.

Without making a direct reference to concerns among some countries about China’s expansive claims in South China Sea, he said India stands strongly for ensuring freedom of navigation and over-flight, and unimpeded maritime commerce.

“Japan also has agreed to implement the concept of Japan industrial townships in India”, Jaishankar said. Briefing the media, Foreign Secretary Jaishankar pointed out that “legal, legislative, expert-level negotiations are yet to be concluded though the government-to-government negotiation on the principles have been sealed”.

The Indian premier spoke warmly of his friendship with Prime Minister Shinzo Abe as well as pointing to the power of their political alliance, after signing deals including the $15 billion Shinkansen train.

“That a country explicitly created a fund labelled Japan-India Make-in India Fund has its own symbolism”.