They also signed a second-phase agreement for a Japanese high-speed railway project in India.
Condemning in the strongest terms the growing threat of terrorism and its universal reach, the two leaders expressed their desire to strengthen cooperation against terrorist threats from groups including Al-Qaida, ISIS, Jaish-e-Mohammad, Lakshar-e-Tayyiba, and their affiliates. In their vision document, India and Japan said that they will continue to make efforts with regard to cooperation on the aircraft.
During Abe's visit to China last week - the first by a Japanese premier since 2011 - the two sides concluded a currency swap agreement for 200 billion yuan (almost $29 billion) on Friday after a gap of five years. Last September, Abe visited Ahmedabad in Modi's home state of Gujarat, where he attended a ribbon-cutting to kickstart construction on a new high-speed rail line to Mumbai employing Japan's vaunted bullet-train technologies.
Mr Modi said, if people are able to see a United India now, it is entirely on account of the sagacity, sensibility, and strategic skills of Sardar Vallabhbhai Patel.More news: Oman says time to accept Israel in region
The summit, marked by a full day of informal meetings and deep conversations on Sunday, as well as delegation-level talks and industry outreach, saw the vision statement announce a "new era in India-Japan relations", which will enable them to "cooperate for peace, stability and prosperity of the Indo-Pacific". Now we are on the 100th rank and are still working on a very broad scale to improve the rankings.
"India has started ranking its 36 states and Union Territories on the ease of doing business. The discussions in these sessions were extremely fruitful and will add strength to our ties", tweeted the PM. Shinzo Abe has invited PM Modi to his villa in Yamanashi where the two leaders will have lunch and dinner together with a view of Mount Fuji on Sunday.
Modi arrived in Japan late Saturday - the same day Abe returned from a three-day summit in China - to be met by members of the Indian expatriate community.
Modi chose Japan among the first nations to visit after taking power four years ago. "There are no negatives, but only opportunities in this relationship, which are waiting to be seized". Abe said that he will work closely and firmly with PM Modi for a free and open Indo-Pacific region. "After India's full accession to three worldwide export control regimes, the two leaders pledged to continue working together for India's membership of the Nuclear Suppliers Group, with the aim of strengthening the global non-proliferation efforts", the statement added.