India and Japan on Saturday signed a memorandum of understanding on civil nuclear energy, and also signed deals on security operations and the bullet train. At a joint press conference, with Japanese Prime Minister Shinzo Abe, Indian Prime Minister Narendra Modi said Japan shared his view that both countries should have a place in the United Nation Security Council. "No friend will matter more in realising India's economic dreams than Japan," Modi said. He added that Japanese private investments are rising and that Abe has been "prompt and positive" on India's economic proposals.
Japan will also import cars from India for the first time, and it was announced around $11-12 billion has been allocated to a 'Make in India' campaign that collaborates with Japan. On Modi's last visit to Japan, Abe had committed $35 billion investment, which Modi referred to on Saturday, saying "unimaginable progress" had been made using the money.
The two countries have sought to take advantage of their cordial ties, especially in light of their mutual need to offset China's growing power.