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The India-Japan Fund will prioritize investments in environmental sustainability initiatives and strategies to reduce carbon emissions, while also working to increase Japanese investment in India.
gave National Investment and Infrastructure Fund (NIIF) along with Japan Bank for International Cooperation (JBIC) has established a $600 million fund called the India-Japan Fund (IJF). In this joint venture, JBIC and the Government of India (GoI) will act as anchor investors.
This joint project highlights an important aspect of cooperation between the two countries in an area of mutual importance – climate and environment. The announcement marks the launch of NIIF’s inaugural bilateral fund, with GoI contributing 49% of the target capital and JBIC providing the remaining 51%. NIIF Limited (NIIFL) will oversee the management of the fund, and JBIC IG (a subsidiary of JBIC) will assist NIIFL in promoting Japanese investment in India.
The India-Japan Fund will primarily focus on investing in initiatives related to environmental sustainability and strategies designed to reduce carbon emissions. It aims to act as a preferred partner to further increase Japanese investment in India.
The establishment of the India-Japan Fund marks an important milestone in the strategic and economic partnership between the governments of Japan and India.
First Published: 05 Oct 2023, 11:00 IST
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