Focusing on closer economic ties with India during the 31st year of diplomatic relations with New Delhi, South Korea has set a target of $4 billion of bilateral trade this year and is mulling augmenting overseas development assistance to the country.
However, survey by Japanese firm shows India as most preferred Asian market for Japanese investors.
During the 13th annual summit, the two prime ministers reviewed developments in bilateral relations and explored new areas of cooperation, focusing on shared vision for peace and prosperity in the Indo-Pacific, where China is flexing its muscles.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Money to come only after Delhi improves biz environment & fast-tracks work.
India will get $35 billion from Japan over the next five years for developmental projects, including building of smart cities and next generation infrastructure as also cleaning of the Ganga, as Premier Shinzo Abe on Monday pledged to partner Prime Minister Narendra Modi's "ambitious" vision of inclusive development.
'Relations between India and Japan are robust and devoid of either shadow of history or any irritant.' 'In fact, there is plenty of warmth and goodwill earned over history. There are no negatives but only opportunities,' notes Dr Rajaram Panda.
In recent years India-Japan relations have acquired rich economic content and strategic intents. Although the bilateral trade at $18 billion between the two countries is not very impressive and leaves much to be desired, the economic engagement between the two countries is both qualitatively and quantitatively noteworthy. India-Japan defence cooperation, however, has generated a lot interest among the strategic community in the context of rise of China. There has been a lot of speculation about India-Japan strategic partnership to hedge China, says Rup Narayan Das.
'The Modi-Xi and Modi-Obama meetings, with an interval of just 12 days, are juxtaposed superbly at a crucial point in the prime minister's life. Can Modi carve out a win-win situation with the superpower and the emerging superpower at the same time?'
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