• Source:JND
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Japan on Friday set an investment target of 10 trillion yen (approx Rs 60,000 cr) in India over a decade and the two sides sealed a raft of big-ticket pacts, including a framework for defence ties and a 10-year roadmap to largely boost economic partnership -- decisions that came amid turbulence triggered by Washington's trade policies.

Outcomes of PM Modi's Japan visit

1. The new measures to further expand India-Japan special strategic and global partnership were unveiled following summit talks between Prime Minister Narendra Modi and his Japanese counterpart, Shigeru Ishiba.

2. The two sides firmed up 13 key agreements and declarations, and announced the launch of several transformative initiatives, including an economic security architecture to promote supply chain resilience in strategic sectors such as semiconductors, clean energy, telecom, pharmaceuticals, critical minerals and new and emerging technologies.

3. Of the agreements, one relates to promoting mobility of 50,000 skilled and semi-skilled personnel from India to Japan in the next five years, while another agreement will advance collaboration in digital public infrastructure.

4. The 10-year roadmap focuses on significantly expanding overall economic ties. It comprised several key pillars for boosting engagement that included economic security, mobility, ecological sustainability, technology and innovation, health, people-to-people exchanges and engagements between Indian states and Japanese prefectures.

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5. Another key pact was to advance cooperation in supply chain resilience for critical minerals, including through the development of processing technologies, joint investments for exploration and mining and efforts for stockpiling critical minerals. A separate declaration was sealed for promoting projects on hydrogen and ammonia.

6. The pacts signed also featured one on a joint crediting mechanism and another on cooperation between the Indian Space Research Organisation and Japan Aerospace Exploration Agency for a joint lunar-polar exploration mission.

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7. The document defines terms and conditions for cooperation between India and Japan on the Chandrayaan-5 mission, giving practical shape to a "landmark" collaboration. The joint crediting instrument will facilitate the diffusion of decarbonising technologies, products, systems, and infrastructure, thereby contributing to India's greenhouse gas emission reduction goals and promoting Japanese investment in India.

8. The comprehensive framework on defence will provide for defence and security cooperation to respond to contemporary security challenges, according to the Ministry of External Affairs (MEA).

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9. The two prime ministers also noted the importance of the Mumbai-Ahmedabad high-speed rail as a flagship project between India and Japan, and concurred to work towards the commencement of operations at the earliest and cooperate on the introduction of the latest Japanese Shinkansen technology in India.

10. The Indian side appreciates Japan's offer to introduce, in the early 2030s, the E10 series of the Shinkansen that runs on the Japanese signalling system, the joint statement said.
PM Modi and Isiba also expressed serious concern over the situation in the East China Sea and the South China Sea against the backdrop of China's increasing military muscle-flexing in the strategic waters.

(With inputs from agencies)