Yoshimasa Hayashi, the foreign minister of Japan, will begin a two-day trip to India on Thursday. During this trip, which is a stop on his six-nation tour of Asia and Africa, Hayashi is anticipated to see his Indian counterpart, S. Jaishankar.
The ambitious Indo-Pacific investment plan put forward by Prime Minister Fumio Kishida during his own trip to India in March will be the major topic of Hayashi’s visit.
By 2030, Japan will have invested $75 billion in infrastructure and security projects in the Indo-Pacific area. The Bay of Bengal-North East Industrial Value Chain Concept was another idea put forth by Fumio Kishida as a way to draw industrial businesses to India’s northeastern districts.
In his address in New Delhi, Fumio Kishida stated that Japan intended to strategically employ ODA, increase it in many ways, and update the Development Cooperation Charter to set new standards for ODA for the next 10 years. As well as moving forward with the JBIC Law revision, Japan intends to launch an “offer-type” collaboration and a new framework for leveraging private capital-type grant aid.
Fumio Kishida emphasized that Japan will collaborate with other nations, especially those from the Association of Southeast Asian Nations (ASEAN), with India serving as a vital partner in the development of the Free and Open Indo-Pacific (FOIP).
The continuing economic crisis in Sri Lanka and the G20 Leaders Level Conference, expected for early September, will probably be topics of discussion when Hayashi and Jaishankar next meet. These two diplomats last interacted in March 2023 at the Quadrilateral Foreign Ministers Meeting.
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