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AP National Business

Japan to invest $42B in India to strengthen economic ties

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Published 9:14 AM

By SHEIKH SAALIQ
Associated Press

NEW DELHI (AP) — Japan says it will invest $42 billion in India over the next five years in a deal that is expected to boost bilateral trade. The deal was signed Saturday during a meeting between Japan’s Prime Minister Fumio Kishida and his Indian counterpart, Narendra Modi. The two sides also reaffirmed their commitment to strengthen security ties across the Indo-Pacific region and held discussions over the ongoing crisis in Ukraine. Japan has announced financial sanctions to isolate Russia. But India has refrained from taking sides and abstained from voting against Russia at the U.N. India and Japan, along with the U.S. and Australia, are members of “the Quad” alliance that is countering China’s rising influence in Asia.

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