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Dec 12, 2015

India and Japan ink 14 agreements in various fields

12/12/2015
 
 
 
 
India and Japan have inked fourteen agreements in various fields to enhance bilateral co-operation between both countries.
These agreements were signed during ninth annual Indo-Japan summit talks held in New Delhi. The summit was jointly held by Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe.

Some important agreements signed are
  • Agreement in transfer of Defence Equipment and Technology Cooperation: Provides a framework to enhance defence and security cooperation.
  • Agreement on security measures for the protection of classified military information: Ensures the reciprocal protection of classified military information transmitted to each other.
  • Agreement on Amendment Protocol of Double Taxation Avoidance Agreement: Amends the Convention between both countries for the Avoidance of Double Taxation and the prevention of fiscal evasion with respect to Taxes on Income, signed in 1989.
  • MoC on Technological Cooperation in Rail Sector: Establishes areas for comprehensive technological cooperation including sharing of information and best practices.
  • MoU on technological cooperation on Rail safety: proposes to cooperate in the areas of safety in train operation and advanced techniques of maintenance along with use of environment friendly technologies, etc.
  • MoC on Medical Products Regulation Dialogue and Cooperation Framework: Seeks to facilitate a constructive dialogue in areas pertinent to raw materials for pharmaceutical use, biological products, medical devices, quasi-drugs, cosmetic products.
  • MoC in the field of forests: Enhance cooperation in sustainable forest management, forest conservation and forest disaster prevention, conservation of biodiversity and effective utilization of forest resources etc.
Apart from this, both countries also issued a joint statement on ‘India and Japan Vision 2025: Special Strategic and Global Partnership Working Together for Peace and Prosperity of the Indo-Pacific Region and the World’. India also extended visa an arrival (VoA) facility for Japanese nationals, including businessmen from 1st March 2016.

India & Japan sign MoC on High Speed Rail on Mumbai-Ahmedabad sector

12/12/2015
India and Japan have signed historic Memorandum of Co-operation (MoC) to introduce High Speed Rail (HRS) on Mumbai Ahmedabad sector to revolutionize Indian Railways.
The MoC was signed in presence of Prime Minister Narendra Modi and visiting Japanese Prime Minister Shinzo Abe in New Delhi.
This agreement confirms developing of high speed rail corridor using of Japanese high speed rail technologies along with financial and technical assistance from Japan.
 
Under the agreement
  • India and Japan have signed an MoU on cooperation and assistance in the Mumbai – Ahmedabad High Speed Rail Project (referred by many as Bullet Train project).
  • Japan has offered an assistance of over Rs.79,000 crore for the project.
  • The loan is for a period of 50 years with a moratorium of 15 years, at an interest rate of 0.1 per cent.
  • The project is a 508 Kilometer railway line costing a total of Rs. 97,636 crore, to be implemented in a period of seven years.
  • It has been agreed that Shinkansen Technology will be adopted for the project.
  • The cooperation of Japan will be fixed on transfer of technology and “Make in India”. Japan will assist India in training of personnel for HSR.
Civil Nuclear agreement
India and Japan also have reached substantive Agreement on Cooperation in the Peaceful Uses of Nuclear Energy. Under it both sides have confirmed cooperation in the peaceful uses of nuclear energy. The final deal will be signed after certain technical and legal issues are thrashed out.
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