India, Japan seek early deal on nuclear cooperation

NEW DELHI Sat Jan 25, 2014 11:41pm IST

1 of 3. Japan's Prime Minister Shinzo Abe (L) and his Manmohan Singh shake hands while exchanging documents after signing a joint statement at Hyderabad House in New Delhi January 25, 2014.

Credit: Reuters/Adnan Abidi

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

NEW DELHI (Reuters) - India and Japan's talks on nuclear cooperation have gained momentum over the past few months and the two hope for an agreement on civilian nuclear energy soon, leaders of the countries said after meeting on Saturday.

"Our negotiations towards an agreement for cooperation in the peaceful uses of nuclear energy have gained momentum in the last few months," Prime Minister, Manmohan Singh, said in a statement after meeting his Japanese counterpart, Shinzo Abe.

The Japanese prime minister said in a separate statement they had agreed to continue talks "with the view for early conclusion".

Abe's three-day visit to India, which started on Saturday, is underscoring growing business and political ties between the two countries as they face mutual rival China.

See slideshow on Abe's India visit here

An agreement on civilian nuclear energy would open up the Indian market to Japanese players, reflecting another shift in Tokyo's policy on a sensitive issue.

Japan is also looking to sell ShinMaywa US-2i planes, built by ShinMaywa Industries, that could be outfitted for firefighting or as a kind of amphibious hospital and cost an estimated $110 million per unit.

A joint working group has met to explore ways to cooperate on its use and production in India, Singh said.

The two countries are also cooperating on several infrastructure projects.

NAVAL EXERCISE

Japan would extend India a loan of about 200 billion yen for the extension of Delhi's metro underground rail system, Abe said.

He added the two sides had also agreed to step up cooperation on high-speed rail systems.

Abe will be the first Japanese Prime Minister to witness India's Republic Day celebrations on January 26.

India also invited Japan to the Malabar joint naval exercise this year. Indian and U.S. navies conduct their annual Malabar joint exercises in the Bay of Bengal once a year.

(Reporting by Krisha N Das and Nigam Prusty; Editing by Sophie Hares)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

DLF Shares

DLF Shares

DLF slides 3 percent, underperforms rivals.  Full Article 

Global Economy

Global Economy

Chinese factories stalling as euro zone business picks up  Full Article 

Rupee Falls

Rupee Falls

Rupee falls for third day; foreign fund inflows key.  Full Article 

Record High

Record High

BSE Sensex hits record high for third straight day.  Full Article 

M&M Upgraded

M&M Upgraded

Credit Suisse upgrades Mahindra & Mahindra to 'outperform'  Full Article 

Breakingviews

Breakingviews

Manchester United’s crisis has silver lining  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage