Destination India
in Japan,
February 18, 2008
Addressing a JIBCC, FICCI sponsored Business summit
attended by over 200 Japanese companies in Tokyo, Dr Ashwani
Kumar, Minister of State for Industry, called for the
need to expand the level of India-Japan economic engagement. Speaking to the
Japanese investors, he stated that the present share of Japan in India’s global trade was a mere
2.3% in 2006-07. He reminded the Japanese Business leaders, of India’s plans
to spend 7-8% of GDP into development of Indian infrastructure which in
monetary terms would be of the level of 450 billion USD out of which 150
billion would have to come from the private sectors including foreign
investors. Dr Kumar invited Japanese investment in the development of Indian
Power Sector, Civil Aviation, Logistics, Biotechnology, Nano-technology and also in the Agro Processing and
Clean technology.
Speaking with reference to the DMIC and Delhi Mumbai
Freight Corridor, Dr Kumar said that these two projects are the most ambitious
projects ever undertaken by India
and that Japan being a
partner in the project is a step forward in forging a meaningful Special
Economic Partnership between India
and Japan.
The project involves a capital outlay of USD 90 billion and is expected to
generate 3 million additional jobs. Japanese companies, he said are likely to
invest USD 5 billion in the DMIC over the next three years.
Photos:
- Dr. Ashwani Kumar meeting with the Minister for Economy
Trade and Industry, Japan, Mr. Akira Amari
- Dr. Ashwani Kumar meeting with the former Prime Minister
of Japan, Mr. Shinzo Abe