India and Japan Strengthen Economic Ties
S Jaishankar Highlights $42 Billion Investment Target
External Affairs Minister S Jaishankar discussed the growing economic relationship between India and Japan, emphasizing a $42 billion investment target by 2027. He highlighted India’s rapid infrastructure development and the role of Japanese businesses in India’s growth.
Jaishankar said, “If you look at the last 10 years, we have on average built 8 new airports every year, about 1.5 -2 new metros in new cities every year, we build 28 km of highways every day, we lay railway tracks of 8 km every day. If you look at our education and skills, the educational institutions have doubled in the last 10 years and it is no accident that there are now 1,600 global capability centres across India that generate exports of more than USD 100 billion every year.”
He also mentioned India’s capabilities in sectors like semiconductors, electric vehicles, and green energy. “We are not just a more attractive economic partner but we are also a more capable one and in a range of domains in areas like semiconductors, electric vehicles, space, drones, green energy,” Jaishankar added.
The Quad foreign ministers’ meeting in Tokyo, which included foreign ministers of Japan Yoko Kamikawa, Australia’s Penny Wong, and US Secretary of State Antony Blinken, reaffirmed India’s role in hosting the next Quad Leaders’ Summit later this year.
Doubts Revealed
S Jaishankar -: S Jaishankar is India’s External Affairs Minister. He is responsible for managing India’s relationships with other countries.
$42 Billion -: $42 billion is a very large amount of money. It is the target amount that Japan plans to invest in India by the year 2027.
Investment -: Investment means putting money into something to make it grow. In this case, Japan is putting money into India to help its economy grow.
Infrastructure -: Infrastructure includes things like roads, bridges, and buildings. It is important for a country’s development.
Semiconductors -: Semiconductors are tiny parts used in electronic devices like computers and smartphones. They are very important for technology.
Electric Vehicles -: Electric vehicles are cars and bikes that run on electricity instead of petrol or diesel. They are better for the environment.
Green Energy -: Green energy comes from natural sources like the sun and wind. It is better for the environment because it doesn’t cause pollution.
Quad -: The Quad is a group of four countries: India, Japan, the United States, and Australia. They work together on important issues like security and trade.
Tokyo -: Tokyo is the capital city of Japan. It is where the Quad foreign ministers’ meeting took place.
Quad Leaders’ Summit -: The Quad Leaders’ Summit is a meeting where the leaders of the Quad countries discuss important topics. India will host the next one later this year.
