India and Japan on 6 September 2013 issued a joint press statement on the sidelines of G-20 summit in St. Petersburg. India and Japan decided to expand the current bilateral currency swap arrangement from 15 to 50 billion US dollars. The two nations expect that this will contribute to the stability of global financial markets including emerging economies.
The two Governments also reiterated the importance of continued reforms in financial and investment sectors for promoting stable and long term capital inflows into India.
The two Governments believe that these policy measures will strengthen the bilateral financial cooperation between Japan and India.
The 2013 G-20 Russia summit was the eighth meeting of the G-20 heads of government. The hosting venue was the Constantine Palace in Saint Petersburg, Russia, 5–6 September 2013.
Who: India and Japan
Where: St. Petersburg
When: 6 September 2013