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The US and India sign an investment incentive agreement in Tokyo

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The United States and India have signed an Investment Incentive Agreement (IIA) in Tokyo, Japan. It was signed on the sidelines of the visit of Prime Minister Narendra Modi to Tokyo where he met and had bilateral meetings with US President, Joe Biden, and the prime ministers of Australia, Anthony Albanese, and Japan, Fumio Kishida.

The US and India sign an investment incentive agreement in TokyoThe agreement was signed by Vinay Kwatra, India’s foreign secretary, and Scott Nathan, CEO of the US International Development Finance Corporation. It is anticipated that the signing of this agreement will lead to increased investment support from the Development Finance Corporation, which will benefit India’s development. Approximately $4 billion worth of proposals are being considered by the Corporation to provide investment support to India, according to the Ministry of Finance.

In addition to vaccine manufacturing, COVID-19 vaccine finance, renewable energy, financial inclusion, and infrastructure, the Corporation has provided investment support. The Corporation has been operating in India since 1974 and has supported investments worth $5.8 billion. This Incentive Incentive Agreement supersedes the earlier agreement signed in the year 1997 between India-US. As part of the agreement, the Development Finance Corporation will offer additional investment support programmes.

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