Japan’s Foreign Minister, Yoshimasa Hayashi, is set to embark on a two-day visit to India, starting Thursday, as part of his six-nation tour across Asia and Africa. The primary focus of Hayashi’s visit is to discuss and reinforce the Indo-Pacific investments plan unveiled by Japanese Prime Minister Fumio Kishida during his own visit to India in March.
During the visit, Foreign Minister Hayashi is expected to meet with his Indian counterpart, S Jaishankar, to further strengthen the bilateral ties between the two nations. The Indo-Pacific investments plan proposed by Prime Minister Kishida aims to inject $75 billion into the region for infrastructure and security initiatives by the year 2030. Additionally, Kishida has presented the Bay of Bengal-North East Industrial Value Chain Concept, an ambitious initiative aimed at attracting manufacturing industries to India’s north-eastern provinces.
In a significant declaration during his speech in New Delhi earlier this year, Prime Minister Kishida announced Japan’s strategic intent to expand Official Development Assistance (ODA) in various forms and revise the Development Cooperation Charter to establish new guidelines for ODA for the next decade. The plan includes the initiation of “offer-type” cooperation and a new framework for mobilising private capital-type grant aid. The amendment of the JBIC Law is also on the agenda to further facilitate Japan’s development assistance initiatives.
The Indo-Pacific investments plan is not limited to India alone; it underscores Japan’s commitment to the broader Free and Open Indo-Pacific (FOIP) vision, with India being a crucial partner in this endeavor. Japan is eager to cooperate with other countries in the region, including those from the Association of Southeast Asian Nations (ASEAN), to enhance regional connectivity, trade, and security.
The forthcoming discussions between Foreign Minister Hayashi and Minister Jaishankar are expected to encompass various matters of mutual interest, including the ongoing economic crisis in Sri Lanka and the preparations for the G20 Leaders level summit, scheduled to take place in early September.
This visit marks an important milestone in the diplomatic relations between Japan and India, further solidifying their commitment to foster regional development and security in the Indo-Pacific. The meeting between Hayashi and Jaishankar will not only strengthen bilateral ties but also pave the way for increased cooperation and economic growth in the strategically significant region.
The two diplomats previously met at the Quad Foreign Ministers Meeting in March 2023, showcasing the growing significance of the Quadrilateral Security Dialogue (Quad) in addressing shared challenges and promoting peace and stability in the Indo-Pacific region.
As Hayashi’s tour continues to other Asian and African nations, Japan’s proactive engagement in the Indo-Pacific investments plan is likely to garner further attention and foster partnerships that will shape the region’s future economic and geopolitical landscape.
