New Delhi: Japanese Prime Minister Shinzo Abe arrives here on Saturday on a significant three-day official visit, reflecting growing bilateral ties amid reports that he will announce low-interest loans worth USD 2 billion to India.
Abe, who will be accompanied by his wife Akie Abe, will be the first Japanese Prime Minister to be a chief guest at India`s Republic Day parade.
During his visit, the Japanese leader will hold talks with his Indian counterpart Manmohan Singh for the annual summit in a bid to add substance and content to the bilateral partnership.
Meanwhile, a report in Tokyo`s Nikkei economic daily said Abe will announce loans totalling about 210 billion yen for construction of subway lines and energy-conservation projects during his visit.
Some 60 billion yen of the 210 billion yen will go towards energy-conservation projects, including the development of solar power plants and wind farms through an Indian government-backed company handling renewable energy projects, the Nikkei said.
Japan`s Emperor and Empress had also visited India two months ago.
Since Abe took over in December 2012 in his second term as Prime Minister, ties between India and Japan have witnessed upward swing. Prime Minister Singh had visited Japan last year for the 7th annual summit during which the two leaders extensively discussed bilateral, regional and global issues of common interest which enhanced and strengthened the Strategic and Global Partnership.
The increasing proximity between India and Japan also comes against the backdrop of tensions between Japan and China over a group of disputed islands in the East China Sea.
India and Japan are also engaged in "early conclusion" of a civil nuclear cooperation pact. The talks, which were launched in 2010, had slowed down after the Fukushima nuclear disaster in 2011, but gained momentum after the direction from the Prime Ministers of the two countries to conclude it early.
On business front, Japan-India bilateral trade reached USD 18.61 billion in 2012-13, marginally higher than USD 18.43 billion in the previous year.
The Delhi-Mumbai Industrial Corridor and the Delhi- Mumbai Rail Corridor are huge projects that are being supported by Japanese agencies, besides the potential involvement of Japan in Chennai-Bangalore Industrial Corridor project.
