Japan, India leaders agree to step up defense, economic ties

Dollar demise? China & Japan ink bilateral currency swap deal worth up to $30bn

Prime Minister Modi's pet "Digital India" initiative seeks to improve online infrastructure by increasing Internet connectivity or by making the country digitally empowered in the field of technology.

The agreement makes Japan only the second country with which India has agreed for such a bilateral dialogue.

Both Modi and Abe called upon Pakistan to bring to justice the perpetrators of terrorist attacks, including those of November 2008 in Mumbai and January 2016 in Pathankot.

The ACSA would permit the Indian Navy (IN) access to a Japanese base in Djibouti, while the Japan Maritime Self Defense Force (JMSDF) would be permitted to use India's military installations on the Andaman and Nicobar Islands located in the Indian Ocean, which lie near the Malacca Straits, next to other naval facilities. He also interacted with top business leaders from the two countries at a forum and asked Japanese businessmen to engage more with India.

Condemning in the strongest terms the growing threat of terrorism and its universal reach, the two leaders expressed their desire to strengthen cooperation against terrorist threats from groups including Al-Qaida, ISIS, Jaish-e-Mohammad, Lakshar-e-Tayyiba, and their affiliates. The currency swap arrangement was described by India's finance ministry as a "high point" of economic and financial pacts with Japan.

PM Modi and his Japanese counterpart Shinzo Abe on Monday.

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Although a proposed "quad" regional defense initiative between democracies Australia, India, Japan and the United State seems stuck in stasis, Japan and India sit on the eastern and western flanks of an expansive China, and are upping defense cooperation.

In an interview with Kyodo News on Friday in New Delhi, Modi said his two days of discussions with Abe "will be an opportunity to review our ongoing cooperation and discuss ways for expanding our relationship for promoting peace, progress and prosperity throughout the Indo-Pacific region and beyond". "I have been told that today Japan investors have announced that they will invest 2.5 billion U.S. dollars in India", he said at the joint briefing.

PM Modi also lauded the Indian diaspora for introducing Kabbadi and Cricket in Japan where martial art is very popular.

After Abe welcomed Modi at a hotel in Yamanakako, Yamanashi Prefecture, around noon Sunday, they had a luncheon together attended by others. The Indian PM is one of the 18 persons Abe follows on Twitter.

The two leaders are scheduled to hold formal talks in Tokyo on Monday that will also likely touch on China's growing power in the region.

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