Narendra Modi’s visit to Japan pushed Indian stocks

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Prime Minister Narendra Modi recently visited Japan on a five-day trip beginning Saturday, August 30. Modi’s visit to Japan aimed at strengthening trade relations between India and Japan and fostering developmental agreements in many areas, including the nuclear deal that has been under negotiation over the last four years.

Several discussions and deliberations took place during the course of Modi’s five-day visit to Japan, which ended on September 3. This was the first major foreign visit by the recently elected Prime Minister of India, who took office in May after a landslide victory.

Areas of discussion

Discussions between Modi and Shinzo Abe, the prime minister of Japan, revolved around development in areas like defence-equipment technology, healthcare, infrastructure, and clean and renewable energy.

Decisions were made in the economic interest of both these nations. For India, there was positive news in the areas of healthcare, clean and renewable energy, women’s development, the development of roads, and the Kyoto-Varanasi channel.

Talks between the two state heads also touched on topics like youth exchange, language training, and cultural exchange along with research and development.

Development and investments to pick up their pace in India

All in all, Modi’s visit to Japan had much in store for aiding a developing India. Exchange-traded funds like the WisdomTree India Earnings Fund (EPI) and the Invesco PowerSharesIndia ETF (PIN) measure the performance of companies incorporated and traded in India. These ETFs’ holdings spread across sectors like information technology, health services, financial services, heavy industry, and consumer products. Infosys (INFY), HDFC Bank (HDB), and Tata Motors (TTM) are a few of the companies that these ETFs invest in.

A stream of positive news from the five-day Modi trip to Japan sent these ETFs soaring. EPI gained 241 basis points or 2.41% and PIN gained 242 basis points or 2.42% from August 29 to September 3 (the period of Modi’s visit to Japan).

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