The Prime Minister Dr. Manmohan Singh has asserted that India and Japan have to play important role for a peaceful, stable, cooperative and prosperous future for the Asia pacific and Indian ocean region. In a statement after a meeting with Japanese counterpart Shinzo abe today he said that this is important at a time of global uncertainties, change and challenges.

The Prime Minister said that he held wide ranging discussions with Mr. Abe in the last two days and the two countries are fully consistent with bilateral global partnership. Dr. Singh said, steps are being taken to advance the relationship. The Prime Minister said the joint statement reflects the importance attached by India to intensify political dialogue and strategic consultations with Japan.

In his remarks Shinzo abe said that talks on soul nuclear cooperation will be accelerated for conclusion of the agreement.

Japanese government has decided to sanction a soft loan of 71 billion yen for development of the second phase of the Mumbai Metro project. This will amount to 700 million US dollars. Japanese Cabinet secretary to the Prime Minister Office, Tomohika Taniguchi, told this to Indian media at Tokyo. He said this the largest loan sanctioned to a single project.

He said both India and Japan have agreed to co-finance a joint feasibility study over starting up a high speed rail on the Mumbai-Ahmedabad route. Both the countries will also set up a Joint Study Group on export of Flying Boat. The Cabinet Secretary also said 17.7 billion yen will be sanctioned to the second phase of the Indian Institute of Hyderabad.