The Union Finance Minister (FM) Shri Arun Jaitley holds a bilateral discussion with the Finance Minister of Japan, Mr Taro Aso; calls upon Japanese companies to set up facilities in India

FM urges the Asian Development Bank (ADB) President, Mr Takehiko Nakao to ensure primacy is accorded to the views of developing countries in ADB’s operations

The Union Finance Minister Shri Arun Jaitley highlighted the initiatives under Make in India and called upon Japanese companies to set up facilities in India for manufacture of rolling stock for the metro rail projects during the bilateral discussion with the Finance Minister of Japan, Mr Taro Aso. Both the Ministers noted the growing synergy between India and Japan and committed themselves towards working closely to further expand India-Japan bilateral economic cooperation.

Later, Shri Jaitley also had a meeting with the Asian Development Bank (ADB) President, Mr Takehiko Nakao and discussed India-ADB bilateral engagements. While noting with satisfaction that India today is the largest client of ADB, Mr Jaitley urged the President to ensure that since ADB provides services to Developing Member Countries, the Bank should ensure that primacy is accorded to the views of developing countries in ADB’s operations and resource planning.

Shri Arun Jaitley is on a three-day official visit to Japan to participate in the Annual Meeting of Board of Governors’ of Asian Development Bank (ADB) among others. During his visit, the Finance Minister is being accompanied by Shri Shaktikanta Das, Secretary, Department of Economic Affairs (DEA) and other senior officials of the Ministry of Finance.

Bilateral economic cooperation: call for foreign manufacturing investment and ADB to prioritise developing countries' views in operations. The Union Finance Minister called on Japanese companies to set up manufacturing facilities in India for rolling stock as part of Make in India to deepen bilateral economic cooperation, and urged the Asian Development Bank to accord primacy to the views of developing member countries in its operations and resource planning.