Japan pledges $68 billion investment in India

AFP | Tokyo

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Japan pledged Friday to invest $68 billion in India during a visit by Prime Minister Narendra Modi to Tokyo, as the two countries agreed to deepen security ties.

"India's massive market is so full of potential that incorporating its vibrancy will help drive the growth of Japan's economy," Japanese Prime Minister Shigeru Ishiba told reporters.

Bilateral trade is currently worth over $20 billion annually, heavily favouring Japan.

Speaking during Modi's twoday stopover before he visits China, Ishiba said Japan would boost investment in India to 10 trillion yen ($68 billion) and would establish a cooperation initiative focusing on semiconductors and AI.