Commerce and Industry Minister Shri Anand Sharma called on Japanese Prime Minister Mr Naoto Kan today in Tokyo. During his meeting, Prime Minister Kan expressed satisfaction on the conclusion of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Japan, which is being signed tomorrow.
Prime Minister Kan underscored the significance of Indo Japanese technology collaboration for research and innovation. He called for a partnership in development of India’s infrastructure, specifically referring to Delhi Mumbai Industrial Corridor project. While responding, Mr Sharma highlighted the importance attached by India to of the Delhi Mumbai Industrial Corridor Project which has now decisively moved from the stage of master planning to project implementation. This project will see investments of over $100 billion and is being seen as a flagship initiative of Indo-Japan partnership. Minister Sharma proposed the establishment of a revolving fund of $ 9 billion with matching contribution from Indian and Japanese side to kickstart the implementation process. Japanese Prime Minister agreed to enhance the financial contribution of Japan and was positively receptive to the suggestion. Mr Sharma urged for greater Japanese investments in areas of core infrastructure and capital goods equipment including power generation where Japanese companies have a technological edge.
During the twenty minute long meeting, Minister Sharma said the India viewed a partnership with Japan as a ‘strategic engagement’ in the region and in the global context. This would be central to the vision of Asian integration articulated by Prime Minister Manmohan Singh.
Mr Sharma is in Tokyo on a two day visit, accompanied by a high level official delegation including the Commerce Secretary and a CII CEO’s delegation led by CII President Hari Bharatia.
Tomorrow, Minister Sharma will be signing the CEPA along with the Japanese Foreign Minister Maehara. Later in the day, he will be holding substantive bilateral meetings with the METI minister to review the progress of DMICDC project. He will be interacting with top Japanese CEOs to seek Japanese investments in India in areas of priority as identified at the Summit level interaction between the Prime Ministers. *****
DS/MRS
(Release ID :69828)
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Infrastructure partnership: enhanced financial support and increased bilateral investment commitments to implement the industrial corridor project. Discussions prioritized implementation of the
Delhi Mumbai Industrial Corridor as a flagship industrial-infrastructure partnership transitioning from master planning to active implementation, and a proposal for a bilateral revolving fund with matching contributions was advanced to catalyse project launch while the Japanese side indicated willingness to enhance financial support and investment in core infrastructure and capital goods.
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