Japan Gears Up to Reveal USD68M Investment Boost in India
(MENAFN) Japan is preparing to unveil an ambitious 10 trillion yen ($68 billion) private investment goal in India over the next decade, as tensions rise between New Delhi and Washington over trade tariffs, according to local media reports on Thursday.
A Tokyo-based news agency cited a government insider saying the announcement is expected during Indian Prime Minister Narendra Modi’s visit to Japan later this month.
This move comes amid a heated tariff dispute, with the United States imposing a steep 50% duty on Indian exports in an effort to "deter Russia from pursuing" the conflict in Ukraine.
The new target significantly expands on Japan’s earlier five-year investment plan of 5 trillion yen ($33.8 billion) launched in 2022, aiming to accelerate economic cooperation.
This investment push aligns with both nations’ shared commitment to fostering a "free and open Indo-Pacific in the face of an assertive China."
Modi is scheduled for a three-day trip to Japan starting August 29, marking his first visit since May 2023, sources said.
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