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Indian infrastructure projects to get Japanese investment
02
Sep '14
Mr. Modi (L) with Mr. Abe/c: narendramodi.in
Mr. Modi (L) with Mr. Abe/c: narendramodi.in
Infrastructure projects in India are going to get a big push as the Government of Japan has promised 3.5 trillion yen (about US$ 34 billion) of public and private investment and financing from Japan to India over the next five years, according to a joint statement by visiting Indian Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe.
 
Japanese funding would be made available for several projects, including next generation infrastructure projects, smart cities, introduction of high-speed railway, rejuvenation of Ganga river, as well as in Indian Government’s initiatives in several other fields like manufacturing, skill development, clean energy, etc.
 
Prime Minister Modi promised that the Indian Government would create special mechanisms like ‘Japan Fast Track Channel’ for the benefit of Japanese investors willing to invest in India.
 
Earlier, addressing business leaders, Mr. Modi said, “If Asia has to lead, India and Japan will have to come together and take the development agenda to greater heights.”
 
During his five-day visit to Japan, Prime Minister Modi is expected to meet Uniqlo chairman Tadashi Yanai to further discuss the Japanese clothing major’s multi-billion dollar India investment plan.
 
At present, Japan is the fourth-largest foreign direct investor into India.
 

Fibre2fashion News Desk - India

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