Besides, the two sides have also agreed to establish a 22 dialogue between the Foreign Ministers and the Defence Ministers of the two countries in augmenting bilateral defence ties.
Prime Minister Narendra Modi said in his press statement after the summit that the new 22 arrangement is aimed at furthering world peace and stability.
PM Modi said both the countries have agreed to forge a closer partnership in digital technologies, cyberspace, health, defence, ocean and space sciences as well.
Meanwhile, Japanese investors have announced that they will be investing 2.5 billion US dollars in India.
The two key announcements of significance made by both the countries after the summit include Japan formally joining the International Solar Alliance-ISA after the ratification of its Framework Agreement. Japan will be the 71st country to sign the agreement and the 48th country to ratify it.
Both the sides also exchanged the notes concerning the provision of seven Yen-loan projects including the one for the Construction of Mumbai-Ahmedabad High-Speed Rail, the third phase of the Delhi Mass Rapid Transport System Project, North East Road Network Connectivity Improvement Project and the Construction of Chennai Peripheral Ring Road.
The total loan provision is up to 316 billion yen.