14th India-Japan Annual Summit held in New Delhi

Tags: International News

The 14th India-Japan annual summit meeting was held in New Delhi on 19 March 2022. The Japanese Prime Minister Mr. Kishida Fumio visited India on 19 and 20th for a two day bilateral meeting with the Indian prime Minister Narendra Modi. Both the leader issued a joint statement titled “Joint Statement Partnership for a Peaceful, Stable and Prosperous Post-COVID World”.

• This was the first visit of Mr. Kishida Fumio as a Japanese Prime Minister to India . He visited India as a foreign minister earlier. 

• The Summit between the Indian and Japanese PMs is taking place three and a half years after the last Summit in Japan in 2018.

• This year also marks the 70th anniversary of the establishment of India-Japan diplomatic relations (28 April 1952).

Highlights of the Visit 

• Japan will invest $42 billion (Rs 3.2lakh crore )in India in the next five years.

• Six agreements on cooperation between the countries were signed. These agreements are on cybersecurity, economic partnerships, waste-water management, urban development, a clean energy partnership and an agreement on promoting bamboo-based products from the northeast region.

• The Japanese Prime Minister Invited  the Indian Prime Minister for the QUAD summit 2022 meeting to be held in Japan.

• There was no agreement on Russian invasion of Ukraine. While the Japanese government has consistently criticised the Russian Invasion of Ukraine and imposed sanctions on Russia, India has refrained from criticising Russian and has also abstained on any UN resolution criticising Russia.

Importance of Japan for India 

• Japan is the fifth largest source of Foreign Direct Investment (FDI) in India after Singapore, USA, Mauritius, Netherlands (April 2014 to August 2021). 

• It has invested $36.2 billion in India since 2000.

• Japan is the largest provider of assistance to India amongst all countries.

• There are 1,455 Japanese companies in India. Eleven Japan Industrial Townships (JIT) have been established, with Neemrana in Rajasthan and Sri City in Andhra Pradesh having the maximum number of companies.

• Japan is helping in setting up a High Speed Rail corridor between Mumbai and Ahmedabad.

Fact File Japan 

• Japan is also called as Nihon or Nippon

• It is an archipelago in the western pacific ocean in East Asia.

• It is composed of four main islands Hokkaido, Honshu, Shikoku, and Kyushu. Honshu is the largest island of Japan.

• It is separated from the Asian mainland by the Sea of Japan.

• Its highest mountain is Mount Fuji.

• It is the third largest economy in the world after the United States and China.

• It is the only country in the world where atom bomb was dropped. In 1945 the U.S. dropped atomic bomb on Hiroshima on 6 August (bomb name Little Boy) and Nagasaki on 9 August (Bomb name Fat Man).

The capital of Japan : Tokyo 

Currency of Japan : Yen