Energy resilience, AI push, economic security 16 key takeaways from today’s Modi-Takaichi meeting | Today’s news
India and Japan on Thursday unveiled a number of major initiatives, including an economic partnership framework and defense pact for joint development of military technology, after summit talks. Prime Minister Narendra Modi and his Japanese counterpart Sanae Takaichi.
Among the main outputs of the meeting was a declaration on economic security, a joint declaration on cooperation in the area artificial intelligence and a document to strengthen engagement in the energy supply chain.
Read also | Modi-Takaichi summit proceedings today: What’s on the agenda?
The two prime ministers undertook a comprehensive review of India-Japan ties in the areas of trade and investment, economic security, energy, new technology, defense and people-to-people exchanges.
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Major outputs included the Joint Declaration on Economic Security, the Joint Declaration on Cooperation in Artificial Intelligence and the Joint Declaration on Energy Resilience.
The partnership aims to strengthen economic security by developing complementary supply chains and collaborating on critical technologies such as artificial intelligence and energy resilience.
This collaboration is significant as it combines Japanese precision technology with Indian software expertise to boost global AI development.
The CBG initiative aims to support cooperative biogas development, energy resource enhancement and sustainability in both countries.
They plan to create a local currency settlement framework that will enable direct yen-rupee transactions and facilitate cross-border payments without relying on the US dollar.
“The economies of India and Japan are complementary. From cultural values to modern technology, there is similarity in our thinking and approach,” PM Modi said in a statement to the media.
Both Modi and Takaichi witnessed the exchange of key memorandums of understanding and agreements on economic security, clean energy, critical technologies and research and development.
India and Japan also agreed on a list of activities to celebrate the 75th anniversary of the establishment of diplomatic relations, Ministry of Foreign Affairs said spokesman Randhir Jaiswal.
In his remarks, Prime Minister Modi also highlighted the strength and importance of India-Japan ties.
“Just a few days ago, I said at the G7 summit that in today’s atmosphere of global upheaval, mutual trust is our greatest strategic asset.”
PM Modi notes that the convergence of Japan precision technology and India’s software capabilities will provide new impetus and power to artificial intelligence.
Read also | “In global turbulence, mutual trust is our greatest strategic asset”: PM Modi
“In the field of defence, we have signed an agreement for the first joint development project between India and Japan,” he said.
What did the Japanese prime minister say?
The Japanese prime minister, who is on a three-day visit to India, said both sides are focused on economic growth through investment and innovation cooperation.
“Prime Minister Modi has launched Viksit Bharat, a national goal to make India a developed country by 2047 and is strongly driving India’s growth,” she said.
“In this way, we share the goal of making our countries strong and prosperous by investing in the future,” she added.
16 takeaways from the Modi-Takaichi summit
1-India-Japan Joint Declaration on Economic Security.
2-India-Japan Joint Declaration on Cooperation in Artificial Intelligence
3-Joint Declaration on Energy Resilience between the Ministry of Petroleum and Natural Gas, India and the Ministry of Economy, Trade and Industry, Japan.
4-Celebration of the 75th anniversary of diplomatic relations.
5-Memorandum on cooperation in the field of batteries.
6- Memorandum on cooperation in the sector of pharmaceuticals and medical devices.
7-Memorandum on cooperation in geology and mineral exploration.
8-Memorandum of Cooperation on India-Japan Cooperative Biogas for Growth (CBG) Initiative.
9-MoU between IIT Bombay, Bharat Gen Technology Foundation and National Institute of Informatics (NII) Japan.
Read also | Modi-Takaichi summit proceedings today: What’s on the agenda?
10-MoU between IndiaAI Mission and METI, Japan.
11-MoU for academic and research cooperation and exchanges between RIKEN, Japan and Center for Cellular and Molecular Platforms (C-CAMP), India.
12-Exchange of letters between IFSCA and JFSA.
13-MoU between National Internet Exchange of India (NIXI) and Japan Network Information Center (JPNIC)
14-MoU between SarvamAI and Preferred Networks on development of LLM.
15-Memorandum on cooperation on partnership in the field of next generation mobility.
In today’s climate of global upheaval, mutual trust is our greatest strategic asset.
16-MoU for Academic and Research Cooperation and Exchanges between RIKEN, Japan and National Center for Biological Sciences – Tata Institute of Fundamental Research (NCBS-TIFR), India.
