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HindustanTimes Fri,19 Sep 2014

No nuke deal yet, but Japan offers Modi bullet trains

Sitaraman Shankar, Hindustan Times  Tokyo, September 01, 2014
First Published: 09:43 IST(1/9/2014) | Last Updated: 19:56 IST(1/9/2014)

On Day 3 of prime minister Narendra Modi's visit to Japan there was no breakthrough on the civil nuclear or defence deals, but India received promises of huge investments in other sectors.

Japanese PM Shinzo Abe promised 3.5 trillion yen of public and private investment over the next five years under the India-Japan Investment Promotion Partnership. This would mean that Japan would double its investment and number of companies in India during this period.

Abe also offered Japanese bullet train technology with financing and operational support, for which Modi thanked him. The feasibility study for the Mumbai-Ahmedabad route is still on.

Japan also promised to remove six of India’s space and defence-related entities from Japan's Foreign End User List.

Earlier Modi delighted his Japanese hosts with an apparent swipe at China.

Modi, addressing Japanese industrialists, said that expansionism would never lead to progress in the modern world, and referred to encroachment and capture of others' territory, a possible allusion to China's claim on the Japanese-controlled Senkaku islands.

Japan's relations with China, never cordial, have steadily worsened under PM Shinzo Abe, and the Japanese are trying to build ties with India to counter their traditional rivals.

'Chai pe charcha' in Tokyo: Prime Minister's Narendra Modi bonds with his Japanese counterpart Shinzo Abe over traditional Japanese tea ceremony. (AFP Photo)

"If you look all around you, we see the expansionism of the 18th century," Modi said. "In the 21st century, if Asia is to lead the world, India and Japan should together raise the prestige of the path of development."

Modi also promised to set up a special management  team for facilitating business with Japan directly under the Prime Minister's Office, even offering to include two nominees of Japanese business.


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