Modi agrees with Ishiba to boost economic ties

The leaders of India and Japan agreed Friday to bolster economic ties while also boosting cooperation in areas including clean energy and defense, as the two Asian powers face common challenges such as China's growing influence and U.S. tariffs.

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Following their summit in Tokyo, Indian Prime Minister Narendra Modi and Japanese Prime Minister Shigeru Ishiba agreed on a goal of boosting Japanese private investment in India to about $6.8 billion a year over the coming decade, up from about $2.7 billion a year in the 2010s.

They also agreed to increase exchanges of workers and students to half a million people in the coming five years. The two governments hope India's young workforce can help address labor shortages caused by Japan's aging and declining population.

"We believe that Japanese technology and Indian talent are a winning combination," Modi told a news conference.

The two leaders released a "joint vision" of cooperation for the next decade in areas such as security, defense, clean energy, technology and space, and signed a total of Il documents.

"As the economies and vibrant democracies of the world, partnership is extremely important not just for our two countries but for global peace and stability as well," Modi said.

"We need to have to take advantage of each other's strengths, to bring solutions to our challenges and to help each other," Ishiba said.