Tokyo, Aug. 22 -- Japan is set to announce a decade-long investment target of 10 trillion yen ($68 billion) for India during Prime Minister Narendra Modi's visit later this month, The Times of India reported, citing Kyodo News.

The initiative is expected to be presented as an upgrade to the five-year target announced three years ago, underscoring efforts to expand economic engagement while both nations seek to promote a "free and open Indo-Pacific" in the face of China's increasing assertiveness.

Alongside the fresh investment target, both governments are developing a framework to deepen cooperation on economic security, with emphasis on securing stable supplies of essential goods.

In addition, the two sides are preparing to launch a j...