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Prime Minister Narendra Modi on Thursday said that Japan invested USD 4.7 billion in India during 2016-2017, which is 80 per cent higher than the last year, while addresing the India-Japan summit meet here.
Prime Minister Modi further said that initiatives like the Ease of Doing Business, Skill India or Make in India show that India is transforming, while also urging the Japanese business community to open the maximum number of Japanese restaurant chains in India.
"Last year, during my Japan tour, we had signed a historic pact for peaceful use of nuclear energy. In 2016-17, Japan invested USD 4.7 billion in India, which is 80 per cent higher than last year," Prime Minister Modi said.
He added, "I am happy to welcome Shinzo Abe to India. We have met several times on the sidelines of international events. Yesterday, we visited the Sabarmati Ashram. Today we went to the Gandhi Musuem."
"I heartily welcome the agreements signed today. They will strengthen India-Japan partnership," he further said.
Prime Minister Modi also announced a delivery service between the two nations to serve the Japanese diaspora in India.
In the joint statement, Prime Minister Modi and Japanese Prime Minister Shinzo Abe condemned in the strongest terms North Korea's continued development of its nuclear weapons and ballistic missile programmes.
The two leaders also called for Pakistan to bring to justice the perpetrators of terror attacks including 2008 Mumbai and 2016 Pathankot attacks.
Prime Minister Modi and Prime Minister Abe also look forward to convening the fifth Japan-India consultation on terrorism and to strengthen cooperation against terror threats from groups incuding the Al-Qaida, the ISIS, the JeM, the LeT and their affiliates.
Meanwhile, Prime Minister Abe thanked India for the warm welcome accorded to him, with a customary 'Dhanyawaad'.
He said, "I'm very happy to have participated in the laying ceremony of the Bullet Train."
"We want to develop our languages and tourism. So we have prepared 1,000 Japanese teachers, who will teach the language, so that we can develop our business and trade," he added.
Prime Minister Abe added that Japan is looking to invest in India's private sector.
He further talked about the Malabar trilateral naval exercise.
"India, Japan and the United States conducted a Malabar trilateral naval exercise. This was based on strong ties of trust between Prime Minister Modi and President Trump," he said.
Prime Minister Abe added, "It will further deepen the cooperation between India, Japan and the U.S."
List of the MoUs and Agreements signed between India and Japan:
-MOC between the Ministry of Home Affairs, of the Government of the Republic of India and the Cabinet Office of the Government of Japan
-MoC in the field of Japanese Language Education in India between MEA and MOFA, Japan
-India-Japan Investment Promotion Road map between DIPP and METI
-MOC between METI and the State of Gujarat on 'Japan-India special programme for Make In India' in Mandal Bechraj-Khoraj in Gujarat
-Exchange of RoD on Civil Aviation Cooperation (Open Sky)
-Agreement for International joint exchange programme between interdisciplinary theoretical and mathematical sciences programme (iTHEMS), RIKEN and National Centres for Biological Sciences (Simons-NCBS)
-Joint Research Contract between National Institute of Advanced Industrial Science & Technology (AIST), Japan and Department of Biotechnology (DBT)
-MOU Between DBT and National Institute of Advanced Science & Technology (AIST)
-MoU on International Academic and Sports Exchange between Lakshmibai National Institute of Physical Education (LNIPE)and Nippon Sports Science University, Japan (NSSU)
-LETTER OF INTENT between Lakshmibai National Institute of Physical Education (LNIPE) and University of Tsukuba, Japan
-LETTER OF INTENT between Sports Authority of India and University of Tsukuba, Japan
-MoU between RIS and IDE-JETRO for promotion of Cooperation in Research Related Activities
Before the signing of these agreements and MoUs, Prime Minister Modi and his Japanese counterpart visited the Dandi Kuteer, a museum dedicated to the life of the Father of the Nation, Mahatma Gandhi, here.
Earlier in the day, Prime Minister Modi and Prime Minister Abe laid the foundation stone for the proposed Ahmedabad-Mumbai High-Speed Rail Network, known as the bullet train, at Ahmedabad.
Prime Minister Modi said that 'friend' Japan gave India a loan worth Rs. 88,000 crore at 0.1 per cent interest and further praised Prime Minister Abe for taking a personal interest in the bullet train project and ensuring that it fructifies into something huge for India.
"If the inauguration for this project is taking place so soon, the credit goes to Shinzo Abe. He took a personal interest to see that this project goes smoothly without any difficulties," he said.
The Japanese Prime Minister said Japan is committed to the policy of 'Make in India'.
Beginning his speech with a customary 'Namastey', Prime Minister Abe said, "I really like Gujarat and I really like India. I will do whatever I can do for India. If we were to merge Japan's 'Ja' and India's 'I', it becomes 'Jai'. If we work together, nothing is impossible. PM Modi and I will work towards realising Jai Japan, Jai India."
The bullet train, which has a capacity to accommodate 750 people, is expected to reduce travel time between the two cities from seven to three hours.
On the Ahmedabad-Mumbai route, total 12 stations have been proposed that include Mumbai, Thane, Virar, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati.
The distance of 508 km will be covered in two hours and seven minutes by the bullet train if it stops at four stations namely Ahmedabad, Vadodara, Surat and Mumbai.
According to the railway ministry officials, the operating speed of the bullet train will be 320 kilometers per hour and the maximum speed will be 350 kilometers per hour.
With this, India has become the first to import the iconic 'Shinkansen' bullet-train technology after Taiwan. The Japanese Government has also agreed to fund the project at minimum interest rates.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)