Japan’s deputy chief of mission to India, Kawazu Kunihiko, said on Sunday that his country’s investment target of five trillion yen over the next five years will depend on the “investment atmosphere” in India.
The diplomat, however, asserted that relations between Japan and India are on the rise in all areas.
“We have already announced an investment target of five trillion yen over the next five years in India. It will be by both public and private sectors, including debts to India for various projects,’ Kunihiko told PTI on the sidelines of a conclave here.
The main areas likely to attract the bulk of investment will be manufacturing, climate change and infrastructure, he added.
”That’s the goal and we hope to reach that number. However, it is about improving the investment climate in India. Without the efforts and cooperation of the Indian side, it will be very difficult to achieve this investment target,” Kunihiko said.
When asked what he meant by “investment atmosphere”, he said that a stable energy supply, a push on infrastructure development and stable policies were the main factors in attracting capital in India.
“The relationship between India and Japan has always been on the rise in the 21st century,” said the official of the Japanese Embassy in New Delhi, adding that his country’s exposure to India is rising. currently at around $30 billion.
In March, Japanese Prime Minister Fumio Kishida announced a five trillion yen (Rs 3,20,000 crore) investment target in India over the next five years after holding talks with his Prime Minister Narendra Modi on a broad range of issues, including the Ukrainian crisis. .
Speaking at the “Natural Allies in Development and Interdependence” conclave, Kunihiko said India and Bangladesh are the first two nations in the world to receive Japanese aid for various development projects.
”Japan would like to be the natural ally of India and neighboring countries. I look forward to working with the Indian government,” he added.
Kunihiko stressed that Japan does not prefer the supremacy of one country, surrounded by other less autonomous nations.
”We believe in economic autonomy and political autonomy. We are partnering with India in the Indo-Pacific by becoming a leader in the region,” he added.
Kunihiko also stressed the importance of the Bay of Bengal and northeast regions in Japan’s foreign policy cooperation with India.
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)