Speech on economic and cultural relations between india and japan in the last 5 years
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During Prime Minister Modi’s visit to Japan in September 2014, two leaders agreed to set a common goal of doubling Japan's direct investment and the number of Japanese companies in India by 2019, in order to build a win-win relationship through synergies between Modinomics and Abenomics. Prime Minister Abe intended to make an effort to realize 3.5 trillion yen of public and private investment and financing, including Official Development Assistance (ODA), to India over the coming five years.
Japan expects India for improving the business environment, including the easing of regulations and the stabilization of the system. India established the “Japan Plus” office in the Ministry of Commerce and Industry in October2014 as a "one-stop" location for resolving problems faced by Japanese companies. Japan and India agreed to set up for 11 candidates of Japanese industrial townships around DMIC and CBIC areas in April 2015. Prime Minister Abe requested India's early decision on introducing special incentive packages in Japanese industrial townships in December 2015 and November 2016.
India decided to introduce the Shinkansen system in December 2015, when Prime Minister Abe visited India. The Japan’s Shinkansen system is in a highest class of High-Speed Railway systems around the world in terms of its safety and accuracy. Japan and India confirmed that the General Consultant would start its work in December 2016, the construction work would begin in 2018, and the railway's operation would commence in 2023.