The leaders of India and Japan pledged Thursday to strengthen economic ties, as cross-border dealmaking picks up between the two Asian nations.
Indian Prime Minister Narendra Modi said the two sides have reached nearly 120 business agreements over the past year, bringing more than $10 billion in Japanese investment to India.
Both Japanese and Indian companies took out newspaper advertisements welcoming Japanese Prime Minister Sanae Takaichi to New Delhi and hailing the countries’ business ties.
Japanese megabanks are also making an “unprecedented push” into India, Bloomberg wrote, bolstered by Modi’s strong personal affinity for Japan; he referred to Takaichi as his “younger sister.” Both countries are also hunting for ways to reduce dependencies on China.