LONDON ¨C Prime Minister Shinzo Abe was in New Delhi last week to take part in the 9th annual Japan-India summit with his Indian counterpart, Narendra Modi. Both leaders evaluated the state of their ¡°special strategic and global partnership¡± and reviewed the implementation of various decisions taken over the last year on the economic and trade front.
During Modi¡¯s visit last year, Japan had announced doubling of its private and public investment in India to about $34 billion over a period of five years. The two leaders wanted to ensure that the momentum in economic ties is maintained. And they did not disappoint.
The biggest announcement during Abe¡¯s visit was India¡¯s decision to adopt Japanese bullet-train technology for its first high-speed railway. The 505-km corridor linking Mumbai with Ahmedabad will be financed by a Japanese loan at just 0.5 percent interest.
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