News Highlight
Japan’s Official Development Assistance (ODA); initiated its economic cooperation with India in 1958.
Key Takeaway
- Patna Metro Rail Development Project intends to alleviate traffic congestion in Patna by creating new metro corridors 1 and 2.
- As a result, they contribute to enhancing the urban environment, economic development, and mitigating climate change.
- West Bengal Forest and Biodiversity Conservation Programme for Climate Change Response.
Projects under ODA
- Patna Metro Rail Construction Project
- Patna Metro Rail Construction Project (I) has been sanctioned for Rs. 5,509 crores.
- It intends to build a new metro route to meet the increased traffic demand in Patna.
- As a result, they contribute to improving the urban environment, economic development, and climate change mitigation.
- Forest and Biodiversity Conservation in West Bengal
- The Project for Forest and Biodiversity Conservation for Climate Change Response in West Bengal has been approved for around Rs. 520 crores.
- It aims to mitigate and adapt to climate change, conserve and restore ecosystems through ecosystem-based climate change initiatives, and conserve and restore biodiversity.
- Thereby contributing to the State’s long-term socioeconomic development.
- Rajasthan Water Sector Livelihood Improvement Project
- The Rajasthan Water Sector Livelihood Improvement Project (II) has been sanctioned for Rs. 1,055.53 crores.
- It aims to improve farmers’ livelihoods while promoting gender mainstreaming in the state’s agriculture and irrigation sectors.
- It is accomplished by increasing water use efficiency and agricultural output.
- As well as by enhancing existing irrigation facilities and agricultural support services.
Other ODAs to India from Japan
- The Delhi Metro is one of the most compelling examples of Japanese cooperation under ODA.
- The Western Dedicated Freight Corridor (DFC) project in India is funded by a soft loan from Japan International Cooperation Agency under Special terms for economic collaboration (STEP).
- Furthermore, Japan and India agreed to establish high-speed railways in India using Japan’s Shinkansen System.
- India-Japan Nuclear Agreement 2016 will assist India in constructing six nuclear reactors in southern India, doubling nuclear energy capacity by 2032.
India-Japan Economic Relations
- Since 1958, India and Japan have had a long and rich history of bilateral development cooperation.
- Over the last few years, India and Japan’s economic cooperation has matured into a strategic alliance.
- In the fiscal year 2019, Japan was India’s fourth-largest investor.
- For decades, India has been the major recipient of Japanese ODA loans.
- The Delhi Metro is among the most compelling examples of Japanese cooperation under ODA.
- Furthermore, through the synergy between the “Act East” policy and the “Partnership for Quality Infrastructure,” Japan continues to cooperate in boosting strategic connectivity from South Asia to Southeast Asia.
Way forward for India-Japan relations
- People-to-people contact
- Although the Covid-19 situation remains difficult, people-to-people relations between the two countries are also progressing.
- Security cooperation
- Security cooperation has also advanced significantly, including joint drills between the Japan Self-Defense Forces and the Indian Armed Forces.
- Quad
- Collaboration is also growing rapidly among Japan, Australia, India, and the United States, four countries that share fundamental values, and the next leaders’ summit is being planned.
- Cultural bond
- Japan-India relations, as “Special Strategic and Global Partnership” suggests.
- It has evolved into a multifaceted and inclusive partnership founded on cultural relationships, strong friendships, and shared global values.
Pic Courtesy: freepik
Content Source: PIB