India and Japan on Monday signed two documents on the renewal of a memorandum of cooperation on the Japanese language and exchange of notes on a 300 billion Japan International Cooperation Agency (JICA) loan for Mumbai-Ahmedabad bullet train.
At a special briefing by Foreign Secretary Vinay Kwatra on the visit of Japan's PM Fumio Kishida to India, he said, "There were two documents signed on the sidelines- Renewal of MOC (Memorandum of Cooperation) in the Japanese language, essentially focussing on higher level language learning and second agreement was Exchange of notes on JICA loan for 300 billion on Mumbai-Ahmedabad high-speed railway project."
Earlier in 2022, JICA signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 100,000 million Japanese Yen (approx. Rs 6,000 Crore) as Tranche 3 on the 'Project for the Construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).'
The objective of the project is to develop a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan's Shinkansen technology (also known as the "Bullet Train"), thereby enhancing mobility in India and contributing to regional economic development.
"4th tranche of loan agreement between India, Japan signed during this visit.. (leaders took stock of) current status of implementation of the project", said Vinay Kwatra on the bullet train project.
PM of Japan, Fumio Kishida is on an official visit to India to meet with PM Narendra Modi. The relations with Japan have always occupied a very special place for India. Japan is one of the very few countries with which India has a system of annual summits.
In 2014, PM Modi made his first bilateral visit outside India, his immediate neighbourhood Japan. During that visit, the India-Japan relationship was upgraded to a special strategic global partnership.
"Guided by strong political will on both sides, the partnership has made significant progress in the last few years covering the entire gamut of mutual engagement as witnessed in the growing convergence of our political strategic and economic interests. In fact, PM Modi has referred to the India-Japan relationship as one of the most natural partnerships in the region," said Vinay Kwatra.
"India-Japan special strategic global partnership built on the shared values of democracy, freedom and respect for rule of law is crucial for fostering peace, prosperity and stability in the Indo-Pacific region," added Vinay Kwatra.
The last annual summit (14th annual summit) between PM Kishida and PM Modi took place in March of last year in New Delhi.
The Foreign Secretary also told that India and Japan have been talking about the larger vision of act East.
"India and Japan have been talking about, in the larger vision of act East for us, in a sub-segment of how India & Japan can cooperate on this issue which essentially strengthens 3-4 key aspects of regional, sub-regional and bilateral engagement which links it through as part of act East," said Foreign Secretary Vinay Kwatra
"So there how do you build connectivity projects which link India's north-east with the rest of the countries that fall under the act East member including Bangladesh, and Myanmar," added Foreign Secretary Vinay Kwatra.
He also announced 2023 as the India-Japan year of tourism, saying, "We also announce 2023 as the India-Japan year of tourism. PM Modi express his desire with PM Kishida to declare the next year as the year of Youth Exchanges between the two countries," said Foreign Secretary Vinay Kwatra.
Meanwhile, Japanese PM Fumion Kishida formally invited Prime Minister Modi to G7 Hiroshima Summit and PM Modi accepted the invitation.
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