India has been invited along with Australia, Cook Islands, Brazil, Vietnam, Indonesia and others for the G7 Summit in Japan.
"India has been invited along with Australia, Cook Islands, Brazil, Vietnam, Indonesia and others for the G7 Summit in Japan. India has huge potential and demand in terms of infrastructure development," Japanese officials said.
"Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida discussed Sri Lanka debt issues and agreed to coordinate on it," the statement added.
India and Japan signed two documents on the renewal of a memorandum of cooperation on the Japanese language and exchange of notes on a 300 billion Japan International Cooperation Agency (JICA) loan for Mumbai-Ahmedabad bullet train.
At a special briefing by Foreign Secretary Vinay Kwatra on the visit of Japan's PM Fumio Kishida to India, he said, "There were two documents signed on the sidelines- Renewal of MOC (Memorandum of Cooperation) in the Japanese language, essentially focussing on higher level language learning and second agreement was Exchange of notes on JICA loan for 300 bn on Mumbai-Ahmedabad high-speed railway project."
Earlier in 2022, JICA signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 100,000 million Japanese Yen (approx. Rs 6,000 Crore) as Tranche 3 on the 'Project for the Construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).'
The objective of the project is to develop a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan's Shinkansen technology (also known as the "Bullet Train"), thereby enhancing mobility in India and contributing to regional economic development.
"Guided by strong political will on both sides, the partnership has made significant progress in the last few years covering the entire gamut of mutual engagement as witnessed in the growing convergence of our political strategic and economic interests. In fact, PM Modi has referred to the India-Japan relationship as one of the most natural partnerships in the region," said Kwatra.
(ANI)