Key Points

The two countries agreed adopted a Joint Declaration on Security Cooperation, which elevates the defence and security ties to the next level, taking into account the contemporary geopolitical realities and security configurations in the region; and

Prime Minister Narendra Modi, who is on a two-day visit to Japan, said the vision focuses on investment, innovation, economic security, environment, technology, health, mobility, people-to-people ties, and state-prefecture cooperation.

PM Modi, who held a bilateral meeting with his counterpart Shigeru Ishiba, said they have set a target of 10 trillion Yen investment from Japan in India over the next ten years.

The two countries will also give special attention to connecting Small and Medium Enterprises and Start-ups from both countries.

PM Modi, who addressed India-Japan Business Forum, urged the Japanese companies to, "Make in India, Make for the world".

"Our Joint Credit Mechanism is a big win for energy. It shows that our green partnership is as strong as our economic partnership. In this direction, we are also launching the Sustainable Fuel Initiative and Battery Supply Chain Partnership," PM Modi said.

The two countries launched the Economic Security Cooperation Initiative to move forward with a comprehensive approach in critical and strategic areas.

"Cooperation in the area of High Technology is a priority for both of us. In this context, Digital Partnership 2.0 and AI cooperation initiatives are being undertaken. Semiconductors and rare earth minerals shall remain at the top of our agendas," PM Modi said.

"We believe that Japanese technology and Indian talent are a winning combination. While we are working on high-speed rail at one end, we are also making rapid progress in areas like ports, aviation, and shipbuilding under the Next Generation Mobility Partnership," he added.

The two leaders welcomed the agreement reached between ISRO and JAXA for cooperation in the Chandrayaan-5 mission.

"Our active participation will symbolise the progress of humanity beyond the boundaries of the Earth, and into space. Under the action plan of human resource exchange, over the next five years, both sides shall encourage an exchange of 5 lakh people, in different fields. 50,000 skilled Indians will actively contribute to the economy of Japan, under this," PM Modi said.

"The partnership between India and Japan shall not be limited to Delhi and Tokyo. Our engagement will deepen through institutional cooperation between the States of India and the Prefectures of Japan. This will open new doors for trade, tourism, education, and cultural exchanges," he added.

PM Modi said that India and Japan are fully committed towards a free, open, peaceful, prosperous, and rules-based Indo-Pacific.

"We have shared concerns towards Terrorism and Cyber security. We also have shared interests in the areas of Defence and Maritime Security. We have jointly decided to further strengthen our cooperation in the fields of Defence Industry, and Innovation," he said.

The Prime Minister said that India and Japan partnership is rooted in mutual trust, reflects our national priorities, and is shaped by our shared values and beliefs.

"Together, we carry a common dream of peace, progress, and prosperity of our peoples, and for the world," he said.

Briefing about PM Modi's interactions later, Foreign Secretary Vikram Misri said Japan today is one of India's most valued and trusted friends.

"Overall, I would say that the message emanating from the visit, and the understanding reached between the two sides, is very clear. Japan today is one of India's most valued and trusted friends. It is a partner for us in our journey toward a developed and self-reliant India... In addition to bilateral issues, the two Prime Ministers also discussed the regional and global situation, and it was clear that in the midst of considerable geopolitical flux, the ties between India and Japan remain a pillar of stability in the International system," he said

"Today it was decided to set a new investment target from Japan of 10 trillion Japanese Yen or $67 billion of private investment into India. At the business forum yesterday, the private sector announced around 150 MoUs... The cumulative value of these MoUs and business partnerships is over $13 billion, which is reflective once again of the confidence that the business pillar has in our relationship," he added.

He said a joint statement titled 'A partnership for security and prosperity for our next generation' has also been issued today..

"Both leaders reaffirmed their commitment to a free, open, and inclusive Indo-Pacific that is peaceful, prosperous, and resilient. Prime Minister reaffirmed that Japan stands with India on the issue of cross-border terrorism."

Referring to the joint declaration on security cooperation, Misri said this is an enabling framework for Indian and Japan to better respond to contemporary security challenges..

"An important feature of this document is the broad concept of security it embodies, which includes cooperation on cybersecurity, counterterrorism, defence industry, research and development, and closer cooperation on security issues in multilateral groupings. One of the new features of the security engagement between the two countries would be an institutionalised dialogue between the national security advisors of the two countries," he said.

"Both leaders today exchanged the joint vision for the next decade. This is a 10-year strategic roadmap in economic and functional cooperation between the two sides... To give new vigour to the relationship, both governments have decided to advance cooperation across eight pillars. These are economic relations, economic security, mobility, technology and innovation, ecological sustainability, health, people-to-people exchanges, and partnerships between Indian states and Japanese prefectures," he added

The India-Japan Economic Security Initiative provides momentum for strategic cooperation through whole of nation efforts in strengthening supply chains of key goods and materials, which foster market diversification and advance cooperation in cutting-edge technologies, including private sector led cooperation by identifying and implementing concrete projects in the areas of semiconductors, critical minerals, pharmaceuticals and biotechnology, telecommunication, clean energy and new and emerging technologies through the government and business tracks of the Dialogue on Economic Security including Strategic Trade and Technology;

The two countries will share policy perspectives, intelligence and information on best practices on latest developments in the above areas and promote cooperation on resilient supply chains and market diversification through the Memorandum of Cooperation in the field of Mineral Resources, India-Japan Digital Partnership 2.0, Memorandum of Cooperation on Semiconductor Supply Chain Partnership, and other such mechanisms.

The two countries decided to promote battery supply chain cooperation to foster a healthy battery market and ecosystem.

- ANI