The top diplomats of Japan and India have confirmed their cooperation with the aim of realizing a free and open Indo-Pacific region, a concept promoted by the Japanese government.

Japan's Foreign Minister Hayashi Yoshimasa met India's External Affairs Minister Subrahmanyam Jaishankar in New Delhi on Thursday.

They confirmed that as the two countries share basic values and strategic interests, they will work together to carry out a new plan to advance a free and open Indo-Pacific. Japanese Prime Minister Kishida Fumio unveiled the plan when he visited India in March.

The foreign ministers agreed that the public and private sectors will join hands to achieve the goal of Japan investing 5 trillion yen, or about 35.9 billion dollars, in India over five years.

They also agreed to make progress in a project to lay a high-speed rail network in India, using Japan's Shinkansen bullet train technology.

The diplomats pledged to expedite security cooperation and increase exchanges of people, including tourists and students.

Japan holds the presidency of the Group of Seven this year, while India chairs the Group of 20. The ministers confirmed that they will enhance bilateral collaboration toward a successful G20 summit set for September in India.