Japan PM Kishida announces $42 billion investment in India

Indian Prime Minister Narendra Modi speaks during a joint news conference with Japanese Prime Minister Fumio Kishida, at Hyderabad House in New Delhi, India, March 19, 2022. REUTERS/Adnan Abidi

MUMBAI (Reuters) - Japanese Prime Minister Fumio Kishida on Saturday announced a 5 trillion yen ($42 billion) investment in India over the next five years during a meeting with Prime Minister Narendra Modi in New Delhi.

The two leaders were meeting to strengthen security amid the Ukraine crisis and improve economic ties between the two nations. Japan in recent years has supported India's urban infrastructure development and the high-speed railway based on its bullet train technology.

In 2014, then-Japanese Prime Minister Shinzo Abe announced 3.5 trillion yen in investment and financing over five years during a visit to India.

($1 = 119.1700 yen)

(Reporting by Abhirup Roy; Editing by Mark Heinrich)

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