Japan to invest $25 billion in India: Suresh Prabhu

He said the relationship had its ups and downs as some years ago there were some peculiarity in the relationship

Noting that Indo-Japan ties have reached a new level, Railway Minister Suresh Prabhu has said that Japan has committed to invest $25 billion in India and the country will benefit immensely from the investment.

"The relation between India and Japan has never been better. Our bilateral relation has been strengthened and members of parliament have contributed towards it," Prabhu said here while releasing coffee-table book '12 Years of Engaged Leadership: Down the Memory Lane.'

The book contains photographs and gist/focus of meetings held during parliamentary delegation visits to Japan. CII and Sasakawa Peace Foundation under Indo-Japan Strategic Dialogue Programme, launched in 2004, take a delegation of MPs every year to Japan.

Since its launch, 12 delegations of MPs have visited Japan, making significant contribution in terms of enriching bilateral relationship and strengthening economic, political and cultural ties between the two countries.

However, Prabhu said the relationship had its ups and downs as some years ago "there were some peculiarity in the relationship".

"But that has changed significantly now. We are helping each other. Our Prime Minister and Japanese Prime Minister has very close personal relationship and had several rounds of bilateral meetings. Their relationship has reached to a new level.

"Japan has committed investments of about $25 billion in India in various areas including high-speed rail service, manufacturing sector. India will benefit significantly from it."

Many MPs attended the book release event on Thursday.

Prabhu said "Japan and India are such great friends. Japan is the land of rising Sun and India is the land of shining Sun. So we are partners now and many initiatives are being taken."

Kenji Hiramatsu, Ambassador of Japan, in his address said the level of exchange can be extended further.

"The relation is expanding every year and our relationship has entered a new era," he said.

Referring to the high-speed rail and civil nuclear cooperation, the Japanese ambassador said various initiatives are being taken by both Prime Ministers of the country.

"We hope to work for peace, stability and prosperity."

With regard to economic cooperation, he said many Japanese companies are working in India. "Our investment is expanding and we hope there will be more incentive for such investment.