Indian PM Modi arrives for summit with Abe

Dollar demise? China & Japan ink bilateral currency swap deal worth up to $30bn

Prime Minister Narendra Modi on Monday held a series of meetings with top Japanese leaders, including Foreign Minister Taro Kono and held productive, focused discussions on bilateral, regional and global issues.

During Modi's summit with Abe on Sunday, New Delhi and Tokyo will review the progress in ties and seek to deepen the strategic dimensions of the bilateral relationship.

The highlight of the meeting - the fifth between Abe and Modi - will be maritime security in the Indo-Pacific region with an eye on China's growing influence.

And although India is hardly a central player on the issue, Japan's Foreign Ministry released a statement that has become nearly de rigeur whenever Abe meets global leaders, stating that the two agreed to cooperate on North Korean denuclearization.

"Describing Prime Minister Modi as "one of my most dependable and valuable friends", Abe said he would be greatly pleased if his guest is impressed the same way as he was in Ahmedabad".

Also on Sunday, in addition to holding talks in what is now their 11 bilateral, the two leaders visited a robot factory.

He appreciated the Japanese support extended to the flagship initiatives in India.

Prime Minister Narendra Modi will return to India today. "Japanese investors have faith in India's economic future, which is marked with myriad opportunities", Modi said. They are also likely to discuss regional and global matters, reports had said earlier in the day. "We're rapidly moving towards being no.1 in mobile phones manufacturing", Modi said while addressing the Indian community at an event in Tokyo.

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Abe and Modi are to hold a more formal summit today in Tokyo.

When he visited Ahmedabad, Prime Minister Modi's home state, Gujarat, in September previous year, the Japanese premier said he received an "overwhelmingly warm welcome" by the people of India.

Defence purchases from Japan will also be on the agenda.

He recalled that when he visited India in 2007, he was honoured to deliver a speech in the Parliament of India, the largest democratic country in the world.

Speaking about "Make in India" initiative, Modi said the initiative has emerged as global brand.

The Prime Minister also noted India's growth in mobile phone manufacturing. "On behalf of the entire Japanese government, I have the pleasure of extending him the warmest hospitality", the Japanese leader's message read.

Last September, Abe visited Ahmedabad in Modi's home state of Gujarat, where he attended a ribbon-cutting to kickstart construction on a new high-speed rail line to Mumbai employing Japan's vaunted bullet-train technologies.

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