1) Japan has committed to doubling its current investment in India to $35 billion over the next five years. This will be primarily towards developing India’s infrastructure and will involve Japanese firms. The agreement also envisages a doubling of Japanese firms doing business in India.
3) Both countries will work towards industrial infrastructure development with the creation of Smart Community projects in six Indian states as part of the Delhi Mumbai Industrial Corridor (DMIC) Project. The DMIC project will involve cooperation in developing power plants, assured water supply, high-volume urban transport, logistics facilities and skill development programmes for youth in regions along the corridor.
5) Modi also inked a Memorandum of Understanding (MoU) between the Ministry of New and Renewable Energy of India and the Japan Bank for International Cooperation (JBIC) in the field of new and renewable energy. Both sides have also asked their officials to move forward on the civil nuclear energy program, which has been held up from the Japanese side since India’s nuclear weapons tests in 1998. Additionally, both countries will cooperate on building highly efficient and environment-friendly coal-fired power plants, and on cooperation in Clean Coal Technologies (CCT).
10) Modi will set up a Special Management Team within the Prime Minister’s Office to deal exclusively with Japanese investment. This special cell will facilitate Japanese investments so that they do not get bogged down in red tape.
