Japan Prime Minister Fumio Kishida to announce USD 42 bln investment plan in India over five years: Report

Japan PM Fumio Kishida. Pic/OfficialTwitterHandle

Japanese Prime Minister Fumio Kishida is likely to announce a plan to invest USD 42 billion (5 trillion yen) in India over the five years, during his visit to the country on Saturday, according to a media report.

Kishida arrived in New Delhi today on a two-day visit, reported Nikkei Asia.

During his meeting with Prime Minister Narendra Modi, the Japanese Prime Minister is also poised to agree to an approximately 300 billion yen loan and an energy cooperation document concerning carbon reduction is expected to be signed. Kishida, who will reveal the public-private funding during an economic forum, is expected to pledge growth in direct investment in terms of value, as well as an increase in Japanese companies expanding into India, according to the media outlet.

During Saturday's public-private forum, the Japanese Prime Minister is also expected to express his support for infrastructure development in India, with an aim to draw Japanese companies here.

In his first visit to India after assuming office and also amid the ongoing Ukrainian crisis, Kishida will take part in the 14th India-Japan Annual Summit, besides holding bilateral talks with PM Modi.

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