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World / Asia

Japan plans to invest $42bn in India

Published: 21 Mar 2022 - 10:01 am | Last Updated: 21 Mar 2022 - 10:02 am

QNA

New Delhi: Japanese Prime Minister Fumio Kishida announced a 5 trillion yen ($42bn) investment in India over the next five years, in order to strengthen economic relations between the two countries.

Indian Prime Minister Narendra Modi met Fumio Kishida, who is currently visiting India, and they discussed bilateral relations in various fields, especially economic and security, Japan's (Kyodo) News Agency reported on Sunday.

Japan's Prime Minister said in a press release that his country will invest $42bn in India over the next five years in a deal that is expected to boost bilateral trade. Kishida added that the investment plan will bring huge benefits for several industries, from the development of urban infrastructure to green energy.