NEW DELHI, March 26: India has been the top recipient of the Japanese government’s financial aid under the Official Development Assistance (ODA) since 2003, surpassing China, an industry body said on Friday.
India has been the top recipient of yen loans from Japan since 2003 surpassing China, which had been holding that position for many years, the International Council for Research on International Economic Relations (ICRIER) said in a statement after a webinar on significance of Japan’s ODA to India.
Between 2010 and 2020, Japan has committed a total of JPY 3.1 trillion for a wide variety of infrastructure projects in India, including connectivity projects in India’s northeastern region, ICRIER said.
The Japan programme at ICRIER was established in 2007 and has actively undertaken in-depth research studies and fostered regular dialogue initiatives on harnessing the opportunities and resolving the challenges to deepen India-Japan economic and strategic engagement.
Japan is supporting India’s Dhubri-Phulbhari Bridge, connecting Dhubri, Assam, and Phulbhari, Meghalaya, over the Brahmaputra River, through ODA, the foundation laying ceremony of which took place in the presence of Prime Minister Narendra Modi last month. ICRIER Chairman Pramod Bhasin said that going forward, the endeavour is to set up a Japan centre at ICRIER to facilitate collaborative research and dialogue between Indian and Japanese experts.
It will help in developing deeper ties between the two nations and to improve investment infrastructure, he said.
Indian Ambassador to Japan Sanjay Kumar Verma said that as the largest recipient of Japan’s ODA, India has become an important strategic international partner to Japan.
“India’s continued rise in the global stage is supported by Japan and Japan’s continued rise as a global leader is supported with its ODA initiatives in India. – PTI