Japan to promote Bay of Bengal-North East India Industrial value concept: Japanese PM Kishida

India's northeast region is seen as a potential hub by Japan for investments in various sectors, especially connectivity. There is a slew of projects in the northeast region that are proceeding with Japanese assistance.

New Delhi: Japanese PM Fumio Kishida on Monday said that Japan will promote the Bay of Bengal-North East India Industrial value concept in cooperation with India and Bangladesh to foster the growth of the entire region. Addressing the 41st Sapru House Lecture in New Delhi, Japanese PM Kishida said, that his country will collaborate closely with India in contributing to stability in the South Asian region.

"Northeast India, which is surrounded by land, still has unexploited economic potential. We will promote the Bay of Bengal-North East India Industrial value concept in cooperation with India and Bangladesh to foster the growth of the entire region," the Japanese PM added.

India's northeast region is seen as a potential hub by Japan for investments in various sectors, especially connectivity. There is a slew of projects in the northeast region that are proceeding with Japanese assistance. Japan's Free and open Indo-Pacific plan resonates with India's Act East policy and therefore, the cooperation between the two countries is of strategic importance.

Meanwhile, launching his new plan for the free and open Indo-Pacific, the Japanese PM said India is an indispensable partner and that Japan will expand cooperation for a Free and Open Indo-Pacific. He pointed out that it is important to lead the international community in the direction of cooperation rather than confrontation and division. Kishida noted that in the International community, a big balance of power change is occurring, and shifting dramatically.

The International community has entered an era in which cooperation and division are intricately intertwined, Japanese PM Fumio Kishida said during the 41st Sapru house lecture in New Delhi.

Meanwhile, Japan condemned the Russian aggression in Ukraine. "Japan will expand cooperation for FOIP. Russia’s aggression against Ukraine obliges us to face the most fundamental challenge of defending peace,” Fumio Kishida further said.

Both countries signed two agreements on bullet trains and Japanese language education -- the exchange of Notes of a tranche - IV JICA ODA Loan of JPY 300 billion for Mumbai Ahmedabad High-SpeedRail (MAHSR), and Memorandum of Cooperation in the field of Japanese Language Education in India between the Ministry of External Affairs of the Republic of India and the Ministry of Foreign Affairs of Japan.

Earlier today, PM Modi and the Japanese PM held bilateral talks on regional and global issues of mutual interest, including the role of the India-Japan partnership in fostering peace, prosperity, and stability in the Indo-Pacific region. Japanese PM's visit assumes significance as Japan took over the G7 Presidency in 2023, while India in December 2022, assumed the G20 Presidency.

Kishida’s visit is also expected to help synchronize Japan-India ties and possibly have the G7 presidency play a strategic role in ensuring that the set goals of India’s G20 Presidency are achieved.