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Japan promises Narendra Modi $35 billion inflows, but holds out on nuclear deal

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Japan promises Narendra Modi $35 billion inflows, but holds out on nuclear deal
TNN & Agencies | Sep 2, 2014, 01.03 AM IST
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READ MORE Narendra Modi-Shinzo Abe Meeting|Narendra Modi Japan Visit|Japanese Investment in India|Japanese foreign end users list|India-Japan trade
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Prime Minister Narendra Modi (right) and Japanese Prime Minister Shinzo Abe shake hands before their talks at the state guesthouse in Tokyo, on September 1, 2014. (AP photo)
NEW DELHI/TOKYO: Prime Minister Narendra Modi on Monday said Japan would play a big role in India's transformation and development. Wrapping up his first bilateral summit with Shinzo Abe in Tokyo, the two sides glossed over the failure of the civil nuclear deal, instead focusing on the plethora of deliverables.

Japan promised $35 billion in investment and financing for Indian infrastructure for the next five years. In return, Modi promised to introduce a special mechanism like a "Japan Fast Track Channel for Japanese investors in India" to woo investment into the country.

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Prime Minister Narendra Modi (second right) and Japanese Prime Minister Shinzo Abe (left) talk during their meeting at the Akasaka State Guesthouse in Tokyo, on September 1, 2014. (AP photo)

A "two-plus-two" arrangement between the two governments at the official level will be upgraded to a ministerial level, much like Japan's arrangement with the US.

Japan to remove curbs on space, defence entities

Japan has also removed six Indian space and defence entities from the "foreign end users list", which will help defence technology cooperation. A much awaited agreement on India buying the US-2 amphibian aircraft was completed. A joint statement said both sides would work on building the US-2 in India "including transfer of the aircraft and its technology" to India.

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Sources said this would help both Japan and India to work together to even export the aircraft to third countries. For India, this would be the beginning of a defence aircraft industry here.

"Japan's decision to remove several Indian entities from the 'foreign end users list', our MoU on defence exchanges and our intention to work out an agreement for collaboration on defence technologies reflect the new level of mutual trust and commitment to deepen our strategic partnership in all dimensions," Modi said.

Addressing Japanese businessmen, the PM took a swipe at China, albeit without naming the country. "There are 18th-century-style ways and thinking that involve expanding (geographically) by taking away the land of another nation and going into seas," he said. "If Asia is to become the leader in the 21st century, Japan and India should lead and promote a path of peaceful development," he said.

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Prime Minister Narendra Modi addressing a business luncheon hosted by Japan Business Federation in Tokyo on September 1, 2014. (PTI photo)

Addressing a joint press briefing with Abe, Modi said, "In recent months, we have made significant progress in our negotiations on civil nuclear cooperation. Today, we have discussed this issue at length. We have reached better understanding of each other's positions through this discussion. We have agreed to instruct our negotiators to work expeditiously to conclude the negotiations at an early date so that we can further strengthen our strategic partnership."

Abe commended India's efforts in the field of non-proliferation including the affirmation that goods and technologies transferred from Japan would not be used for delivery systems for WMD (weapons of mass destruction).

"We intend to give a new thrust and direction to our defence cooperation, including collaboration in defence technology and equipment, given our shared interest in peace and stability and maritime security. We have also decided to expand our cooperation in advanced technology, science and technology, people-to-people exchanges, educational exchanges, etc," Modi said at the joint press briefing with Abe.
 
MODIS visit to Japan is a big hit.

At least in the media, but is it really that special for India?


Joint Statement on the occasion of Official Visit of the Prime Minister of Japan to India (January 25-27, 2014)
January 25, 2014
The Prime Minister of Japan, H.E. Shinzo Abe is currently on an official visit to India on 25-27 January 2014 at the invitation of the Prime Minister of India, H.E. Dr. Manmohan Singh as chief guest at India’s Republic Day celebrations. The two Prime Ministers held extensive talks during their Annual Summit on bilateral, regional and global issues on 25 January 2014 in Delhi...
Joint Statement on the occasion of Official Visit of the Prime Minister of Japan to India (January 25-27, 2014)


Strategic alliance: India-Japan economic engagement India-Japan strategic partnership can only be sustained on a long term basis on the solid foundation of deep economic engagement, for which Japan has provided enough fertilizer to nurture the relationship.

Along with the promise to conclude the Civil Nuclear Cooperation Agreement by the end of the year, other mega projects will help propel the bilateral economic and political relationship to unimaginable heights. The Civil nuclear cooperation agreement with Japan will help India enter many of the restricted nuclear clubs and trade regimes and encourage other countries also to respect India’s desire to promote civil nuclear energy.

It is upto India to provide an enabling environment for not only the Japanese but other international investors to make the country an attractive place and worthy of engagement in the strategic areas.

The kind of huge market and strategic possibilities that India has emerged has led the Japanese government to encourage its investors to consider India as an alternative to China, where they have till now made more than US$ 70 billion investment and conduct more than US$ 345 billion of bilateral trade.

Promoting investment

In fact the anti Japanese sentiments over the Senkaku/Diayou islands in China will force the Japanese business to seek greener pastures and India must seize the opportunity by putting its own house in order.

During the visit of the Prime Minister Manmohan Singh to Tokyo the Japanese government once again reiterated its commitment to promote hundreds of billion dollars of investment in India through various infrastructure projects which has the potentials of transforming India into a mega market and multi-trillion dollar economy...

CASS-India


April 30, 2012
Visit to India by Minister for Foreign Affairs Koichiro Gemba

From Sunday, April 29 to Monday, April 30, Mr. Koichiro Gemba, Minister for Foreign Affairs, visited India and held the Sixth Japan-India Foreign Ministers' Strategic Dialogue as well as the First Japan-India Ministerial-Level Economic Dialogue. Minister Gemba also paid a courtesy call on His Excellency Dr. Manmohan Singh, Prime Minister of India. The overview of the meetings is as follows.

1. Sixth Japan-India Foreign Ministers' Strategic Dialogue...

MOFA: Visit to India by Minister for Foreign Affairs Koichiro Gemba (Overview)


So it's not like this is a new relation that just has started up, but it's a continuation of deepen ties and if you look at the points that Modi had discussed now and that MMS had discussed in Jan, you will see a lot of commonality too. In fact, we started with the look East policy and after thr 123 nuclear pact, the US urged their allies like Japan, Austrialia or Canada to get closer ties to India, which opened up a lot of chances.
But it's good to see that NDA is follwing Indias success story in foreign policy!
 
At least in the media, but is it really that special for India?



Joint Statement on the occasion of Official Visit of the Prime Minister of Japan to India (January 25-27, 2014)




CASS-India


April 30, 2012


MOFA: Visit to India by Minister for Foreign Affairs Koichiro Gemba (Overview)


So it's not like this is a new relation that just has started up, but it's a continuation of deepen ties and if you look at the points that Modi had discussed now and that MMS had discussed in Jan, you will see a lot of commonality too. In fact, we started with the look East policy and after thr 123 nuclear pact, the US urged their allies like Japan, Austrialia or Canada to get closer ties to India, which opened up a lot of chances.
But it's good to see that NDA is follwing Indias success story in foreign policy!
Exactly,these deals have been in process for long which were decided b/w MMS and abe's visit to India in early 2014. Its got nothing to do with modi coming in power,its just a change in power nothing more than that. Its all about foreign policy which modi is going ahead with like it should have been done.

I would wait for another 6months to say the least before i would sing for modi,many such policy perhaps would be under works right now ,hence i would wait for a while. It applies to eveything from Economy to defence. MMS had done quite a good job at the end of his tenure,and we cant simply take that credit away from him,that would too cheap.
As for nuclear deal,it was already reported before modi's trip to japan that it would not be signed during his trip.so not surprised.
 
Thats what you call a PROPER LEADER of a nation.

He brings $35 billion in foreign investment.

Not inducing debt buying weapons THEY CANT AFFORD
 
Exactly,these deals have been in process for long which were decided b/w MMS and abe's visit to India in early 2014. Its got nothing to do with modi coming in power,its just a change in power nothing more than that. Its all about foreign policy which modi is going ahead with like it should have been done.

I would wait for another 6months to say the least before i would sing for modi,many such policy perhaps would be under works right now ,hence i would wait for a while. It applies to eveything from Economy to defence. MMS had done quite a good job at the end of his tenure,and we cant simply take that credit away from him,that would too cheap.
As for nuclear deal,it was already reported before modi's trip to japan that it would not be signed during his trip.so not surprised.

Japan-India Relations (Basic Data)...

Japan-India Relations (Basic Data) | Ministry of Foreign Affairs of Japan


Here as well, business as usual.
 

Atleast I can say this thing for SURE............

As long as Rahul Baba is at the HELM of Congress........Modi will be at the HELM of the nation :D

@levina sorry to say this about your favorite rahul baba :enjoy:


@Roybot Yeh Ch**** spain me GF key saath honeymoon mana raha tha jab uthrakhand me bar ayi thi.........literally......i don't think there is a GALI that perfectly defines him.........anyone wanna try?? :D

P.S. @levina @scorpionx I am back to being Communal :cray: -------------> :D
 
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It is business as usual,for every investment and loan that JICA gives to India it has to be paid back over a period of 30 years with a grace period of 10yrs and carries a concessional rate of 1-0.2% depending upon the amount invested or say given. Lets say if a loan of $35billion is given to India @rate of .5% 30yrs later it would give an extra revenue of $5.25billion to Japan.
Its a long term investment ,they need one another to thrive.

Japanese investment has lowed down past global economic crises ,we can expect it pick up now with improved maket sentiments,i suppose.
 
Atleast I can say this thing for SURE............

As long as Rahul Baba is at the HELM of Congress........Modi will be at the HELM of the nation :D

@levina sorry to say this about your favorite rahul baba :enjoy:
Issshh
Rahul Gandhi was never my fav.I can name a politician who I think is good enough and for whom I might vote but then not now some other time... :)

arp2041 said:
@Roybot Yeh Ch**** spain me GF key saath honeymoon mana raha tha jab uthrakhand me bar ayi thi.........literally......i don't think there is a GALI that perfectly defines him.........anyone wanna try?? :D
What rubbish??
You know I really think that personal lives of politicians should be kept out of such discussions.Mostly because their personal lives are dirtier than their public lives.

arp2041 said:
P.S. @levina @scorpionx I am back to being Communal :cray: -------------> :D
You're a chameleon. :P

Btw I think Japan avoided getting into nuclear deals with India because it itself is planning to shut most of its plants due to outages. Japan closed 8 of its nuclear reactors in 2011 and has plans to shut down the remaining 9 between 2015 and 2022.
So if India was pinning its hope on NPPs then I think it would be all in vain and alternate sources of energy should be worked on.And what better than renewable source of energy?
Nuclear power plant is out of style and would be out of work by 2050.
 

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