What's new

India, Japan sign $75 billion currency swap agreement

INDIAPOSITIVE

SENIOR MEMBER
Sep 20, 2014
7,367
-6
7,535
Country
India
Location
India
India and Japan Monday concluded a $75 billion bilateral currency swap agreement, a move that will help in bringing greater stability in foreign exchange and capital markets in the country.

The agreement will further strengthen and widen the depth and diversity of economic cooperation between the two countries.

Prime Minister Narendra Modi, who is visiting Japan, and his Japanese counterpart Shinzo Abe held delegation-level talks during which the two leaders discussed a range of bilateral, regional and global issues including the situation in the Indo-Pacific region.

"With a view to enhancing financial and economic cooperation, governments of Japan and India welcomed the agreement to conclude a Bilateral Swap Arrangement (BSA) of USD 75 billion," said India-Japan Vision Statement issued after the summit-level meeting between the two leaders.

The swap agreement, a Finance Ministry's release said, should "aid in bringing greater stability to foreign exchange and capital markets in India...This facility will enable the agreed amount of foreign capital being available to India for use as and when need arises".

Recognising the unparalleled potential for development of relations between the two countries, the prime ministers reviewed the significant milestones achieved over the last four years.


https://economictimes.indiatimes.co...rency-swap-agreement/articleshow/66415790.cms


Japan, India leaders agree to step up defense, economic ties


he leaders of Japan and India have agreed to step up their cooperation in defense, trade and a range or other areas amid China's growing influence in the region.

Japanese Prime Minister Shinzo Abe and his Indian counterpart, Narendra Modi, agreed Monday to expand arms sales and hold high-level defense talks and joint military exercises.

They also signed a second-phase agreement for a Japanese high-speed railway project in India.

Their meeting comes immediately after Abe's visit to Beijing, where he met with Chinese leaders.

Modi has called for regional unity against protectionism. He arrived Saturday and was invited to Abe's vacation house near Mount Fuji on Sunday for private talks.


https://abcnews.go.com/Internationa...ers-agree-step-defense-economic-ties-58823987
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)

Top