(MENAFN- IANS) New Delhi, Aug 1 (IANS) Japanese Ambassador to India, Ono Keiichi, on Friday said he had an engaging discussion with Reserve Bank of India (RBI) Governor Sanjay Malhotra on the growing role of Japanese banks in India's economy.

Sharing the update on social media platform X, the envoy highlighted that the meeting focused on the expansion of Japanese banks' investments in India and how they are increasingly contributing to the country's economic growth.

“Honoured to meet Sanjay Malhotra, Governor of the Reserve Bank of India(RBI). We had an engaging discussion on the expansion of Japanese banks' investments in India and their growing contribution to the Indian economy,” Keiichi wrote on X.

The meeting comes as India and Japan continue to deepen their Special Strategic and Global Partnership, with greater emphasis on trade, investment, and financial cooperation.

In recent years, Japanese financial institutions have expanded their footprint in India, supporting infrastructure projects, industrial growth, and business collaborations.

Earlier, senior officials from both nations had reaffirmed the importance of strengthening bilateral ties ahead of Prime Minister Narendra Modi's scheduled visit to Japan later this year.

During a high-level dialogue in the national capital on July 28, Indian Foreign Secretary Vikram Misri and Japan's Vice-Minister for Foreign Affairs Takehiro Funakoshi agreed to enhance cooperation in security, economy, and people-to-people exchanges, while working closely within frameworks such as the Japan-US-Australia-India partnership to promote a Free and Open Indo-Pacific.

"At the Japan-India Vice-Ministerial Dialogue, the two Secretaries confirmed that, in anticipation of Prime Minister Modi's visit to Japan scheduled for this year, they would work to strengthen bilateral relations in a wide range of areas, including security, economy, and people-to-people exchanges, and would further cooperate, including within the Japan-US-Australia-India framework, towards the realization of a Free and Open Indo-Pacific," read a statement issued by Japan's Ministry of Foreign Affairs on July 28 evening.

"In addition to bilateral relations, the two Secretaries also exchanged views on regional situations, and agreed to continue to cooperate closely between the two Secretaries. During the exchange of views with Mishra, Principal Secretary to the Prime Minister's Office, the two sides exchanged views on bilateral relations," it added.

MENAFN01082025000231011071ID1109872495