Prime Minister Narendra Modi visited Japan on October 28-29, 2018 to attend the India-Japan Annual Summit with the Japanese Prime Minister Shinzo Abe.
After the summit, the two sides exchanged 32 MoUs or agreements including USD 75 billion currency swap agreement and agreed to ‘2+2’ dialogue.
After the United States, India will now hold a 2+2 dialogue with Japan. Both the sides agreed for a 2+2 dialogue between Foreign Ministers and Defence Ministers. The aim is to work towards world peace and stability.
currency swap agreement
Japan and India entered into a USD 75 billion currency swap agreement that will boost Indian economy as it encounters a steep drop in the rupee’s value.
International Solar Alliance
During the Summit, Japan announced to join the
International Solar Alliance (ISA) by submitting the instrument of ratification
on October 29, 2018. As of now, there are 70 countries that have signed the ISA
Framework Agreement and 47 countries that have ratified it.
Japan will be the 71st country to sign and 48th country to ratify the ISA Framework Agreement.
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