India, Japan sign high speed rail, civil nuclear project agreements
"No less historic is decision to introduce High Speed Rail on Mumbai-Ahmedabad sector through Shinkansen known for speed, reliability, safety," said PM Modi at a joint appearance.
Shinkansen is a network of high-speed railway lines in Japan operated by four Japan Railways Group companies.
India and Japan also signed MoU on civil nuclear energy co-operation which is not just about commerce and clean energy but symbolic of mutual confidence and partnership for a secure world, said the Indian foreign ministry.
"It is a great pleasure to host a personal friend and a great champion of India-Japan relationship. No partner has played a decisive role in India's economic progress than Japan. It comes with great public expectations and huge responsibility for us," said Modi as the two leaders issued a joint statement.
"We greatly appreciate PM Abe's package of 12 billion USD and technical assistance on easy terms on this project," said PM Modi about the railway project.
Modi said bullet train will revolutionise Indian Railways, and it will become engine of economic transformation in India.
He said India and Japan's shared commitment to combating climate change is equally strong.
The Japanese Prime Minister is on a three-day visit to India, including a visit to PM Modi's constituency, Varanasi where Abe will also witness the Ganga Aarti in the evening.
Earlier, Prime Minister Narendra Modi who along with his Japanese counterpart Shinzo Abe attended the Business Leaders Forum.
"Not just high speed train, India wants high speed growth," said PM Modi who received Abe for the Forum.
"India is a land of possibilities with excellent human resources and a technological base and Japan has been there at every turning point," said Modi.
"Today there is a Make in India movement in Japan with a $12 billion fund," said Modi.
Abe arrived in India on Friday and ahead of attending the Forum had tweeted: "Looking forward to tomorrow’s summit meeting with @narendramodi. Together, let’s open a new age for the Japan-India relationship."
Modi emphasized that he wanted India and Japan to move ahead together, not just in the sphere of high-speed trains, but also for "high-speed growth."
The Prime Minister recalled his visit to Japan last year, and the commitment of 35 billion dollars of investment made by Japan. He said that the figure had surprised many at that time, but today, within a short time-span, "unimaginable progress" had been made, and the contours of this investment were beginning to get visible on the ground.
Modi said that "Make in India" is proceeding in mission mode, not just in India, but also in Japan. He said the "Japan Plus" initiative that was begun last year as a policy experiment, is also doing well.
The Prime Minister mentioned recent economic indicators in both India and Japan, and said these were extremely encouraging, especially in the light of the global economic slowdown.
Modi recalled that Japan had been a part of many key economic turning points in India, and gave the examples of the Maruti car, and the DFC (Dedicated Freight Corridor).
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