Prime Ministers of Japan and India have exchanged 32 MoUs and agreements including $75 bn currency swap agreement and agreed on ‘2+2’ dialogue during the India-Japan Annual Summit.

The $75 bn currency swap agreement will help boost Indian economy as it encounters a steep drop in the rupee’s value. It would be 50% higher than the previous agreement.

This facility will enable the agreed amount of foreign capital being available to India for use as and when the need arises. Equally, Japan can also seek dollars from India in exchange for yen. 

After US, India will now hold a 2+2 dialogue with Japan. Both the sides agreed for a 2+2 dialogue between Foreign and Defence Ministers which aims to work towards world peace and stability. 

Other agreements under various categories like defence and strategic, digital and new technologies, healthcare and wellness, food value chain and agricultural areas etc. were also signed.

For the list of other agreements, please click: https://www.mea.gov.in/bilateral-documents.htm?dtl/30542/List+of+AnnouncementsAgreements+signed+between+India+and+Japan+during+visit+of+Prime+Minister+to+Japan