Chinas rise in Asia has disturbed the equilibrium and created a sense of fear among other states in the region. Chinese economic and military capabilities, along with its aggressive and threatening behaviour in South Asia and the South China Sea have become concerns for both India and Japan. According to the Theory of Realism, the two nations should come together to balance China’s rise and failing to do so would be risky for both. This paper analyses developments in India-Japan relations under the first Modi government (2014-19). It examines the history of the relationship, highlights key moments and delves into the reasons for the close ties. In assessing the key agreements signed between India and Japan during the first Modi regime, the paper also explores the intentions, realities and possibilities of Indo-Japanese relations and the future ahead.