Japan's $12 billion 'Make in India' Fund to Push Investments
Dec 14, 2015: Japan has pressed an accelerator on India’s growth by investing a huge amount of money in India. Japan has committed an investment of $ 12 billion at negligible interest rates for “Bullet Train” project and another investment of $ 12 billion for “Make in India”.
"Today, we have scaled new summits in our shared journey," PM Modi shared with media after his talks with Japanese PM Shinzo Abe.
The Indian side is completely delighted with this deal as Japan is giving this loan amount for a long duration of 50 years at 0.1% interest rate to boost the bullet train project between Mumbai and Ahmedabad.
Economic Times had reported that two sides will sign an agreement on the high-speed train between Mumbai and Ahmedabad during Abe's trip.
This is a trailer of Indo – Japan relationships. Japan is also going to import Maruti Suzuki cars from India that is a great achievement. "Maruti Suzuki will manufacture here. The Japanese company will manufacture here and export it to Japan," Modi said.
Modi also said that India will extend to the Japanese people visa on arrival from March 1 next year.