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Dr. Kumar calls for exponential leap in Indo-Japan relations
19
Feb '08
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.

Press Information Bureau Government of India

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