India, Japan welcome regional cooperation

Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida welcomed the launch of the India-Japan Initiative for Sustainable Development of the North Eastern Region of India.

Both the leaders appreciated the importance of India-Japan's continued collaboration through the Act East Forum (AEF) for the sustainable economic development of India's North Eastern Region and for enhancing the Region's connectivity with Southeast Asia, said Minister of External Affairs in a joint statement.

The India-Japan initiatives for sustainable development include "Initiative for Strengthening the Bamboo Value Chain in the North East" and cooperation in health care, forest resources management, connectivity and tourism in different states of the North Eastern Region.

Kishida arrived here in the national capital earlier today on his maiden visit to India as the head of the Japanese government.

PM Modi today said Japan will invest Rs 3.2 lakh crores (5 trillion Yen) in the next five years in India. PM Modi's remarks came during a press statement following the 14th India-Japan Annual Summit attended by him along with his Japanese counterpart.

"PM Kishida has been an old friend of India. I have had the opportunity to exchange views with him when he was the Foreign Minister of Japan," said PM Modi.

"There has been progress in the economic partnership between India- Japan economic partnership. Japan is one of the largest investors in India. India-Japan is working as 'One team- One project' on Mumbai-Ahmedabad high-speed rail corridor," he added.

Speaking on both countries' steps towards achieving sustainable economic growth, PM Modi said, "India and Japan understand the importance of a secure, trusted, predictable and stable energy supply. This is essential to achieve sustainable economic growth and to deal with climate change."

(ANI)