Japan will invest Rs 3.2 lakh crore in next five years in India, says PM Modi

NEW DELHI: Japan will invest Rs 3.2 lakh crore in the next five years in India, PM Modi announced in a joint press statement with visiting Japan Prime Minister Fumio Kishida after the summit meeting between the two countries.

The Japanese Prime Minister arrived in Delhi with a high-level delegation. Both premiers made talks on strengthening bilateral ties that will encourage peace, prosperity and stability in the Indo-Pacific region and in the world.

"PM Kishida has been an old friend of India. I have had the opportunity to exchange views with him when he was the Foreign Minister of Japan. Japan is one of the largest investors in India," Modi said.

"I am happy that we have crossed the investment target of 3.5 trillion Yen set in 2014 and we have decided to increase our aspirations. In the coming five years, we have set a new target of 5 trillion Yen investment i.e. about 3.20 lakh crore," he added.

PM Modi said that the government will ensure assistance to the Japanese companies that come to India.