Japan To Invest Rs 3.2 Lakh Crores In India Over Next 5 Years: Modi

New Delhi: Japan will invest Rs 3.2 lakh crore (5 trillion yen) in India over the next five years, Prime Minister Narendra Modi said on Saturday.

Modi and his Japanese counterpart Fumio Kishida addressed a joint press conference after holding bilateral talks at Hyderabad House earlier today, as part of the India-Japan Annual Summit.

“The world is still grappling with COVID-19 pandemic and its side-effects. There are still obstacles in the process of global economic recovery. Geo-political events are also presenting new challenges,” Modi said.

Modi observed that India-Japan partnership will help promote peace, prosperity and stability in the Indo-Pacific region as well as at global level.

Besides ways to boost economic and cultural ties between the two countries, the two leaders discussed global issues like Russia’s invasion of Ukraine.

“Unilateral attempts to change the status quo using force should not be allowed… Russia’s invasion of Ukraine is a very serious incident which has shaken the roots of international rules and world order. We should be committed to stop any kind of unilateral changes by use of force,” Japanese PM Kishida said.

It’s Kishida’s first trip to India since assuming office last year.