New Delhi

India and Japan on Thursday unveiled a raft of landmark initiatives including an economic partnership framework and defence pact to co-develop military hardware following summit talks between Prime Minister Narendra Modi and his Japanese counterpart Sanae Takaichi.

The major outcomes from the meeting included a declaration on economic security, a joint statement for cooperation in the field of artificial intelligence and a document to bolster engagement in the energy supply chain.

The two prime ministers carried out a comprehensive review of India-Japan ties in areas of trade and investment, economic security, energy, emerging technologies, defence and people-to-people exchanges.

"The economies of India and Japan are complementary. From cultural values to modern technology, there is similarity in our thinking and approach as well," Modi said in his media statement.

"And above all, the foundation of our relations rests on unbreakable mutual trust," he said, reflecting the growing congruence in ties between the two countries.

Modi said the two sides have prepared a joint roadmap for economic security.

"Through this, we will strengthen supply chain resilience in strategic areas such as semiconductors, quantum, and advanced materials," he said.

Modi said India and Japan have also taken several important decisions in the field of energy security.

"Through the India-Japan bio-gas Initiative, we will set up one thousand bio-gas and organic fertiliser plants in India."

"This will give new strength to sustainability, prosperity, and rural livelihoods in India's villages," he said.

Both Modi and Takaichi witnessed the exchange of key MoUs and agreements spanning economic security, clean energy, critical technologies and research and development.

India and Japan also agreed on a list of activities for celebrating the 75th anniversary of establishment of diplomatic relations, external affairs ministry spokesman Randhir Jaiswal said.

In his remarks, Modi also highlighted the strength and significance of India-Japan ties.

"Just a few days ago, at the G7 Summit, I had said that in today's atmosphere of global upheaval, mutual trust is our greatest strategic asset."

"And I am proud that the India-Japan partnership stands fully tested on this touchstone," he said.

Modi note that the convergence of Japan's precision technology and India's software capabilities will give a new momentum and strength in artificial intelligence.

"In the field of defence, we have signed an agreement on the first co-development project between India and Japan," he said.

The Japanese prime minister, who is on a three-day visit to India, said both sides are focusing on economic growth through investment and innovation collaboration.

"I am committed to realising a strong economy and aiming to enhance Japan's supply chain and technological capabilities through investment in 17 strategic areas."

"Prime Minister Modi launched Viksit Bharat, a national goal to make India a developed nation by 2047 and is strongly driving India's growth," she said.

"In this way we share the goal of making our countries strong and prosperous through investments in the future," she added.

There has been an upswing in India-Japan ties.

The relationship was elevated to a Special Strategic and Global Partnership in 2014.

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As the two countries approach the 75th anniversary of the establishment of diplomatic relations in 2027, cooperation continues to deepen across a wide range of sectors, including trade and investment, economic security, defence and security, science and technology, culture, and people-to-people ties. The bilateral framework now comprises over 70 dialogue mechanisms.

Modi visited Japan for the 15th Annual Summit in Tokyo in August last year. The annual summit remains the flagship platform driving the strategic agenda of the partnership.