In the era of Prime Minister Narendra Modi, Japan and India have come very close to each other. Indications are that in the coming time, there can be more intimacy in the friendship of both, especially if both these countries jointly invest in the investment scheme in Africa.
Speaking at a seminar in Tokyo on October 29, the last day of his two-day visit, said that both the countries want to jointly invest in Africa and other parts of the world in concerted efforts for solid development.
Well this is not a new announcement. Prime Minister Modi and Japan’s Prime Minister Shinzo Abe announced the plan for the first time in 2016.
Professor Swaran Singh says at the Jawaharlal Nehru University’s School of International Studies: “The focus of both the countries on the ‘strategic’ and ‘global’ partnership for infrastructure and connectivity, like the Afro-Asian Growth Corridor, launched in May 2017, has increased. ”
Investment in africa
It is understood that China is investing rapidly in Africa that it will not be easy to compete with it. India and Japan are personally competing with China in China. But have failed to stop the impact of China.
China has so far invested $ 70 billion in Africa, while India has invested $ 56 billion in the last 20 years and Japan has invested $ 32 billion. But China is far ahead of these two countries.
Japan’s traders say that China has been investing in Africa for quite a few years and has seen an increase in recent years. According to them, China is investing in infrastructure, which results in immediate effect.
But Mukesh Williams, Professor of Indian origin at Keio University of Japan says that natural resources in Africa are so much that all countries can invest. “Africa is full of natural resources where all countries have opportunities for investment.”
According to one estimate, there is a possibility of investing $ 2.5 trillion in Africa. America, Europe, India and China have so far invested $ 200 billion.
How much India and Japan will be successful
Looking at China’s growing investment and impact in Africa, will India-Japan joint investment scheme be successful? Professor Mukesh says, “It will be difficult to compete with China in the short term, but in the long run, India-Japan efforts will be successful.”
His argument is that much of China’s investment is in the infrastructure sector, such as making a port or airport. Millions of Africans also got jobs from China’s investment.
But Professor Sharma says, “The focus of India-Japan joint investment will be to increase the quality of life in the people of Africa, to improve their life and its effect will be seen in 8-10 years.”
That is why India and Japan are planning to invest in education, skill development, health, medicine and IT sectors. Japan has so far invested $ 32 billion in Africa, mostly in the areas of health and education.
The difference between the India-Japan model and the Chinese investment model is that China’s government invests in Africa, while India and Japan are ahead in investing in private companies.
The relationship between India and Japan has been strong, but the recent visit of Prime Minister Modi to Japan has happened at a time when the Prime Minister of Japan returned from his visit to China just a week ago. There are indications that traditional rival China and Japan are coming closer.
In such a situation, Japan would like to challenge China in Africa? According to Professor Mukesh, Japan and China are not seeing investment in Africa as a match. According to him, historic hostility does not change in friendship so quickly.