India top recipient of Japanese financial aid since 2003, surpassing China

India has been the top recipient of yen loans from Japan since 2003 surpassing China, which had been holding that position for many years
Last Updated 26 March 2021, 16:29 IST

India has been the top recipient of the Japanese government's financial aid under the Official Development Assistance (ODA) since 2003, surpassing China, an industry body said on Friday.

India has been the top recipient of yen loans from Japan since 2003 surpassing China, which had been holding that position for many years, the International Council for Research on International Economic Relations (ICRIER) said in a statement after a webinar on significance of Japan's ODA to India.

Between 2010 and 2020, Japan has committed a total of JPY 3.1 trillion for a wide variety of infrastructure projects in India, including connectivity projects in India's northeastern region, ICRIER said.

The Japan programme at ICRIER was established in 2007 and has actively undertaken in-depth research studies and fostered regular dialogue initiatives on harnessing the opportunities and resolving the challenges to deepen India-Japan economic and strategic engagement.

Japan is supporting India's Dhubri-Phulbhari Bridge, connecting Dhubri, Assam, and Phulbhari, Meghalaya, over the Brahmaputra River, through ODA, the foundation laying ceremony of which took place in the presence of Prime Minister Narendra Modi last month.

ICRIER Chairman Pramod Bhasin said that going forward, the endeavour is to set up a Japan centre at ICRIER to facilitate collaborative research and dialogue between Indian and Japanese experts.

It will help in developing deeper ties between the two nations and to improve investment infrastructure, he said.

Indian Ambassador to Japan Sanjay Kumar Verma said that as the largest recipient of Japan's ODA, India has become an important strategic international partner to Japan.

"India's continued rise in the global stage is supported by Japan and Japan's continued rise as a global leader is supported with its ODA initiatives in India.

"Japan's ODA can be used to promote sectors such as infrastructure, outer space, climate change issues, maritime (connectivity, security, freedom of navigation)," Verma said.

JICA Director General (South Asia Department) Sakamoto Takema emphasised on working together to address concerns of India's private sector in areas such as infrastructure, regulations, human resource, creating a balanced society for sustainability by focusing on environment, gender and vulnerability.

"The same can be achieved through innovation of technology in the social and technology sector. JICA is committed to quality growth for prosperity with more jobs, more investment.

"Japanese FDI has a sizeable presence in India and JICA has strengthened development in areas such as environment, climate change, biodiversity, poverty alleviation, women empowerment, disaster prevention as well as utilising Japan's knowhow in other areas of strategic importance," Sakamoto said.

Japan is closely working with India in the northeastern region, with biodiversity conservation and forest management in Sikkim, support to the water supply and sewage projects in Guwahati.

JICA is also involved in the north east road network connectivity across Assam and Meghalaya, among other important initiatives at Tripura, Manipur, Mizoram and Nagaland.

(Published 26 March 2021, 16:29 IST)

Follow us on