India–Japan relations the cutting off of economic assistance. These sanctions were lifted three years later. Relations improved exponentially following this period, as bilateral ties between the two nations improved once again, to the point where the Japanese prime minister, Shinzo Abe was to be the chief guest at India's 2014 Republic Day parade. In 2014, the Indian PM Narendra Modi visited Japan. During his tenure as the Chief Minister of Gujarat, Modi had maintained good ties with the Japanese PM Shinzo Abe. His 2014 visit further strengthened the ties between the two countries, and resulted in several key agreements, including the establishment
Kozo Yamamoto appointed his ministerships in 2016. Yamamoto is a known advocate of reflation policies, and is one of the first to argue for using monetary easing tools to overcome deflation in Japan. As a longtime critic of the Bank of Japan's monetary tightening policies in the Diet, he chaired multiple study groups on monetary policy when the LDP was out of power, and appealed to Shinzo Abe the need for quantitative easing. Yamamoto proposed the consumption tax increase of April 2014 to Abe Shinzo, and advised swift action. He also advocated for basic allowances and various public-works projects for low-income earners