There are two ways of looking at Prime Minister Narendra Modi's ongoing Japan visit and why he has been able to take the Indo-Japan relationship to a never before trajectory in such a short time.
But whichever way you look at it, the hard fact is that Modi has pulled off the most substantive and almost sensational concrete deliverable at a time when he is the cusp of completing 100 days in office– and that too in the domain of foreign policy domain like few of his predecessors have done.
Modi brought about a climax in his ongoing Japan visit on day three of his five-day trip on Monday when his Japanese counterpart Shinzo Abe pledged to invest $35 billion to finance infrastructure projects and smart cities in India in the next five years. Modi's track record in Gujarat as Chief Minister and his promise of "No red tape, only red carpet" sweetened the deal further for Japan and compelled Tokyo to loosen its purse strings for India.
Narendra Modi shakes hands with Japanese Prime Minister Shinzo Abe during a signing ceremony at Akasaka State Guest House in Tokyo. AFP
This pledge from Tokyo is not the only concrete deliverable from the Modi-Abe summit as there are many more, but this is definitely the jewel in the crown of Indo-Japan relationship which is now rocketing ahead.
No Indian Prime Minister has been able to extract such a mammoth investment pledge from any foreign power in one single visit.
Then there is a flip side to it.
One must appreciate and understand the peculiar conditions in past few months, particularly the free-fall in Japan-China relations. One can argue that in many ways Japan was a low-hung fruit anyway at this point of time and this fruit would have fallen in the lap of the Indian government, irrespective of which party is in power and who is the PM.
China's continuing shenanigans have already forced Japan to divert its huge investments in China and look for newer and better options. India has definitely been figuring very high on Japan's radar screens. India offers the best alternative to Japan not only in the economic sense but in strategic sense too.
So, in that respect Modi is Destiny's Child. This is evident from the fact that despite fears of poor monsoon the monsoon has revived and international oil prices are continuing to fall despite turbulence in the oil-rich Middle East.
But it does not matter whether a batsman scores a blemish-free century on debut or whether he is helped indirectly by poor fielding by the opposition. What will go to the record books is that he scored a century.
This is what Modi has brought about during his trip to Japan, his first bilateral visit outside of South Asia.
While we will discuss the China factor in Indo-Japan relations separately as it is too important a topic to be clubbed with other things, Modi's ongoing Japan visit has already produced a lot of concrete deliverables in many areas as reflected in Tokyo Declaration for India-Japan Special Strategic and Global Partnership. The biggest deep focus area expectedly pertains to infrastructure. Take a look.
1. The Japanese side announced the launch of a feasibility study by the Japan International Cooperation Agency (JICA) of a project for setting up of a 10 MW canal-top grid connected solar photovoltaic (PV) power plant in Gujarat as a model for next generation infrastructure.
2. The Indian side appreciated Japanese yen loan pledges of 50 billion yen (approximately 500 million US dollars) for the Public-Private Partnership Infrastructure Financing Project to the India Infrastructure Finance Company Limited (IIFCL), and of around 15.6 billion yen (approximately 156 million US dollars) for the Guwahati Sewerage Project in Assam.
3. Both sides emphasised that the Delhi-Mumbai Industrial Corridor (DMIC) Project should result in a new era of industrial infrastructure development with the creation of new generation Smart Community projects across six states in India.
4. Both sides acknowledged that in addition to new manufacturing hubs, the DMIC Project will envisage the development of infrastructure linkages like power plants, assured water supply, high capacity urban transportation and logistics facilities as well as important interventions like skill development programme for providing employment opportunities to youth.
5. Both sides welcomed the progress made in the development of industrial cities at Dholera in Gujarat and Shendra-Bidkin in Maharashtra, and integrated industrial townships at Greater Noida in Uttar Pradesh and Vikram Udyogpuri near Ujjain in Madhya Pradesh.
6. Both sides expressed their expectation for introducing Japanese technologies and expanding Japanese investment in Mass Rapid Transit Systems (MRTS) with the possibility of adopting the most suitable financing scheme. Both sides directed the respective relevant authorities to start a feasibility study by JICA on a potential yen loan project for the MRTS between Gurgaon and Bawal in Haryana.
7. Welcoming the progress achieved in the Smart Community projects, viz the Logistics Data Bank project, the Mega Solar Power project at Neemrana and the Seawater Desalination project at Dahej, both sides instructed their officials to accelerate the implementation of these Smart Community projects. The Indian side assured to resolve the outstanding issues regarding the Seawater Desalination project at Dahej, including tariff, water quality parameters, water sales, etc. Both sides hoped that these projects will demonstrate the uniqueness of cutting-edge Japanese technology in India.
8. Welcoming the rapid progress made in the Chennai-Bengaluru Industrial Corridor (CBIC), including the finalisation of the perspective plan and the designation of three cities, viz Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka, as potential industrial nodes, both sides instructed their officials to expeditiously finalise the Master Plan and the Development Plan of the three cities by the end of March 2015. Prime Minister Modi directed relevant authorities to ensure the timely development of the infrastructure stipulated in Tamil Nadu Investment Promotion Programme (TNIPP), such as road development and, power and water supply. The Japanese side welcomed it.
9. Taking into account the positive effects of the TNIPP on India's business environment improvement and infrastructure development, both sides shared the view that a similar programme may be extended to the state of Karnataka.
10. Both sides welcomed the signing of a Framework of Cooperation between the Ministry of Road Transport and Highways, Government of India, and the Ministry of Land, Infrastructure, Transport and Tourism of Japan in the Roads and Road Transportation Sector.
11. The Indian side sought Japanese support in upgrading the ship-breaking yard at Alang Sosiya in Gujarat.
12. The Japanese side underlined Japan's policy to promote people-centred investment with an emphasis on inclusiveness to have as many people as possible enjoy economic benefits of investment, enhanced social resilience to climate change, natural disasters, and capacity building. The Japanese side emphasized that promotion of such investment will lead to sustainable development. The Indian side welcomed this policy.
13. Both sides urged and supported the Asian Development Bank to enhance its capacity to address the region's infrastructure and connectivity needs.
via Top Stories - Google News http://ift.tt/1qUMCHP
Put the internet to work for you.
No comments:
Post a Comment