India-Japan Annual Summit

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About the summit-

• Indian Prime Minister Shri Narendra Modi and Prime Minister of Japan H.E. Mr. Kishida Fumio participated in the summit.
• The Prime Ministers recognized that the Summit was taking place at a significant time as the two countries were celebrating the 70th anniversary of establishment of diplomatic relations and India was celebrating the 75th anniversary of its independence.
• During the summit India and Japan set an investment target of “five trillion yen” ($42 billion) in the next five years.
•  India and Japan have surpassed their previous target of 3.5 trillion yen Japanese investment between 2014-2019, and the new target of 5 trillion yen was a “measure of their performance in the past”. 
• The two sides also concluded a “roadmap for competitive partnership” for the MSMEs and the small–scale sector companies.
• The two sides discussed various regional issues such as the Line of Actual Control (LAC) with China, and the PLA’s attempts at “multiple transgression” on the LAC.
• This was the first India–Japan annual summit since 2018, which had been postponed due to protests against the Citizenship (Amendment) Act and then due to the pandemic.
• The previous India-Japan Annual Summit took place in Tokyo in October 2018.
• The two sides also exchanged six agreements 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.
• During the summit, the Indian Prime Minister highlighted that India-Japan are working as ‘One team-One project’ on the Mumbai-Ahmedabad high-speed rail corridor.
• Putting greater emphasis on Ukraine, both Tokyo and New Delhi agreed to a “four-point plan”, in order to have a joint approach to the Ukraine crisis as close strategic partners.
• According to the four-point plan, both India and Japan have agreed that they will “not tolerate” any unilateral and forceful change in status quo of Ukraine or any country in the world, they will continue to push for a peaceful settlement of the conflict, Japan and India will also jointly address the situation whenever needed and finally, they will work together in giving humanitarian aid and assistance to Ukraine.

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