India and Japan have set a US$ 42 billion investment target by 2027: External Affairs Minister, Mr. S. Jaishankar

External Affairs Minister Mr. S. Jaishankar, speaking in Tokyo after the Quadrilateral Security Dialogue (Quad) ministerial meeting, announced an investment target of Yen 5 trillion (US$ 42 billion) between India and Japan by 2027. The Quad meeting on July 29 included Jaishankar, Japan’s Yoko Kamikawa, Australia’s Penny Wong, and US Secretary of State Antony Blinken. During the press conference, he highlighted the deepening economic relationship between India and Japan, noting significant infrastructure developments over the past decade. He reported that India had constructed 8 new airports annually, added 1.5 to 2 new metro systems in various cities each year, built 28 kilometers of highways daily, and laid 8 kilometers of railway tracks daily. Additionally, the number of educational institutions has doubled, and there are now 1,600 global capability centres in India, generating over US$ 100 billion in annual exports.

To increase this number, he also detailed the current presence of 1,400 Japanese companies operating in India. He credited Japanese firms with catalysing India's automobile revolution and significantly contributing to metro system development. He also noted the ongoing high-speed railway project. He emphasized key areas for future cooperation, including semiconductors, artificial intelligence, electric vehicles, and green energy. "These sectors are central to our bilateral and Quad discussions due to their broader implications," he stated. He highlighted India's evolving capabilities in high-tech and green sectors, asserting that India is positioning itself as a global partner in advanced fields such as semiconductors, electric vehicles, space, drones, and green energy. The Japanese Ministry of Foreign Affairs reaffirmed its commitment to strengthening bilateral cooperation, particularly through the high-speed rail project, and announced the expansion of recruitment for Indian nationals under the Japan Exchange and Teaching (JET) Programme and the start of Japanese Language Partners dispatch to India.

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