Japan extended an assistance of 200 billion yen towards transportation and green energy projects in India.

'Prime Minister Abe and I have just concluded a comprehensive Annual Summit meeting. We noted with satisfaction the growing frequency of our political engagement and our expanding defence and security cooperation. Our bilateral maritime exercises have now been established on an annual basis and we have welcomed Japan’s participation in the Malabar exercise this year,' said the Indian Prime Minister Dr Manmohan Singh after the conclusion of delegation level talks with the visiting Japanese Prime Minister Shinzo Abe here on Saturday.

Regarding possible cooperation with Japan on civil nuclear energy and supply of aircraft, Dr Singh said : 'Our negotiations towards an Agreement for Cooperation in the Peaceful Uses of Nuclear Energy have gained momentum in the last few months. Our Joint Working Group on US-2 amphibian aircraft has met to explore the modalities of cooperation on its use and co-production in India. More broadly, we are working towards increasing our cooperation in the area of advanced technologies. I reviewed with Prime Minister Abe the current status of these transformative projects and shared my expectations with him.'

Defining India-Japan cooperation in ASEAN and East Asia Summit process and cooperation between the two countries in regional and global developments, including the work for reforms in the UN Security Council within the G-4 framework, Dr Singh said : 'Prime Minister Abe’s visit to India as Chief Guest for our Republic Day (on January 26, 2014) has reinforced our strategic partnership and added substance to our relations. That he has chosen to do so on the eve of an important parliamentary session in Japan only goes to show his commitment to this relationship. I am grateful to him for this'

The Japanese Prime Minister Abe pledged about 200 billion yen for transportation and green energy projects in India. This includes 148.887 billion yen for Phase-III of Delhi Mass Rapid Transport System Project, 30 billion yen for Pahase-II of New and Renewable Energy Development Project and another 30 billion yen and another 30 billion yen for Phase-III of Micro, Small and Medium Enterprises Energy Saving Project.

Prime Minister Abe descirbed it as 'a great honour to be invited as a Chief Guest at India's Republic Day parade. In fact he is the first Japanese Prime Minister to be the Chief Guest on this ocassion.

' We are delighted that he was able to accept our invitation to be Chief Guest at our Republic Day celebrations this year. Together with the visit of Their Majesties the Emperor and Empress of Japan to India last month, his visit exemplifies the momentum in our Strategic and Global Partnership,' Indian Prime Minister Dr Singh said.

Earlier in the day Prime Minister Abe addressed a meeting of India-Japan Business Forum jointly hosted by three apex Indian industry bodies - FICCI, Assocham and CII. Addressing this meeting the Japanese Prime Minister said :'it is not only India needs Japan, Japan needs India too.'

He said that Japan was developing technologies which were useful for the people. Japanese companies having these useful technologies have come here. There are technologies for high speed railways, medicare, agriculture development

He urged both the countries to come together for betterment of the world.

The Indian Minister of Commerce and Industry, Anand Sharma stressed the need for both India and Japan to come together 'in a world of paradigm shift in economic and social order'.

He said that India's new Manufacturing policy has made possible for Japanese investment in manufacturing sector and transfer of technology. He invited more Japanese investments in infrastructure sector.

Sharma described India-Japan cooperation important only only for Asia but also for rebalancing in Asia-Pacific region.

India and Japan signed agreements for cooperation in tourism, implementing bilateral exchanges in science and technology, harmonising standards, enhancing energy efficiency in telecom towers. The two countries also exchanged notes on ODA loan for Uttarakhand Forest Resource Management Project, project for improvement of the Institute of Child Health and Hospital for Children in Chennai, JBIC buyer credit for NTPC's Kudgi Power Plant and JBIC loan for NTPC's Auraiya Power Plant. .