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India-Japan- deals & agreements

Indo-Japan- deal & agreements

  1. India and Japan cemented their strategic partnership with the signing of a preliminary pact on civil nuclear cooperation.
  2. The two sides also signed agreements on sharing of technology, equipment and military information
  3. Japan will be a regular participant in the Malabar series of naval exercises that were held mainly between the Indian and US navies.
  4. Japan said it will provide $12 billion of soft funding to build India’s first bullet train besides another $12 billion as an incentive package for Japanese companies investing in India. Bullet train network will link Mumbai with Ahmedabad and will cut short time from present 7 hours to 2 hours.
  5. As part of its overseas assistance package, Japan would lend India $400 billion yen, or $3 billion, for various projects.
  6. It will also participate in big ticket infrastructure projects in India, including the $5.5 billion Chennai-Bengaluru corridor project.
  7. India will issue ‘visa-on-arrival’ to all Japanese citizens from March 1, 2016.
  8. The two Prime Ministers reaffirmed the intention to develop ‘Japan Industrial Townships (JITs),’ with investment incentive for companies that would not be lower than under the prevailing policy framework such as Special Economic Zone (SEZ), and National Investment and Manufacturing Zone (NIMZ). Japan plans to set up 11-12 Industrial townships in India.
  9. Moreover, both sides will work toward evolving special packages for attracting Japanese investment in the Japanese Industrial Townships in India.
  10. The two leaders 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.”
  11. Ahead of Japanese Premier Shinzo Abe’s visit, India and Japan inked a pact for amending the double taxation avoidance agreement and for preventing fiscal evasion that was originally signed in 1989. The protocol provides for internationally accepted standards for effective exchange of information on tax matters, including bank information and information without domestic tax interest. The pact would also allow the two countries to assist each other in collection of revenue claims. Further, it provides exemption of interest income from debt claims insured by the Government from taxation in the source country.

INDO-JAPAN NUCLEAR DEAL: PROS & CONS
Japan, the only country in the world to have suffered the consequences of being targeted by nuclear weapons, agreed for the deal because of

  1. India’s self imposed moratorium on nuclear testing
  2. Its move to separate its civil nuclear reactors from its military ones and
  3. India’s “No first Use” principle

These commitments of India are sufficient to assuage Japan’s concerns on nuclear testing and non-proliferation

However, India on its part, has stressed that it will retain its right to test atomic weapons and has refused to be bound by any international treaties limiting its options.

So, Japan on its part has retained the right to relook at its civil nuclear cooperation pact with India if it were to test.

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