Question: In recently held 13th India-Japan Summit, India and Japan have signed the currency swap agreement amounting-
(a)$100 billion
(b)$75 billion
(c)$55 billion
(d)$67 billion
Answer: (b)
Related facts:
- The Indian Prime Minister visited Japan to attend the annual bilateral summit between India –Japan held on 28-29 October 2018 in Japan.
Important aspects of the Summit:-
- The two sides agreed for a 2+2 dialogue between our foreign ministers and defence ministers to further work towards world peace.
- India and Japan sign $75 billion currency swap agreement. The agreement will help bring greater stability to foreign exchange and capital markets. Japanese investors will also invest $2.5 billion in India.
- Foreign Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman held the first edition of the 2+2 dialogue with US Secretary of State Michael Pompeo and Defence Secretary James Mattis in New Delhi on 6th of September.
- Both the countries have agreed to from digital partnership to cyberspace, health, defence, ocean to space.
- Low cost manufacturing is an advantage for businesses, combining with IT industry which is India’s strength if come together with Japanese Hardware will work wonders, quoted by Prime Minister Modi.
- India and Japan sign six agreements, including on high-speed train and Naval cooperation.
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