India and Japan have signed a five-point action agenda to increase bilateral trade and investment between the two countries. The action agenda was signed between Japan’s minister for Economy, Trade and Industry Miyazawa and commerce and industry minister Nirmala Sitharaman. The Action Agenda includes,
- Development of selected townships in India as Japanese industrial townships
- Promotion of investment and infrastructure development
- Further development and cooperation in IT sector
- Enhancing cooperation in strategic sectors
- Asia-Pacific economic integration.
Yoichi Miyazawa said that the agenda is in line with the fulfillment of PM Narendra Modi’s ‘Make in India’ campaign. He also added the agenda would definitely help India and Japan to strengthen economic ties.
Tidbits
- Japan is the world’s second largest developed economy.
- Bilateral trade between India and Japan stood at USD 16.29 billion in 2013-14.
- Between April 2000 and February 2015, India has received USD 18 billion as Foreign Direct Investment.
- The economy of Japan is the third largest in the world by nominal GDP and the fourth largest by purchasing power parity.
- Japan is the world’s largest creditor nation, generally running an annual trade surplus and having a considerable net international investment surplus.
- Japan’s Capital – Tokyo. Japan’s Currency – Japanese Yen.
- Japan’s Emperor – Akihito. Japan’s Prime Minister – Shinzo Abe.
- Japanese population enjoying the highest life expectancy of any country.
