Indian govt looks forward to Japan participating in PLI schemes

17 Mar '21

1 min read

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India and Japan will be the most preferred strategic partners in days to come, according to Guruprasad Mohapatra, secretary of the department of promotion of industry and internal trade (DPIIT). India looks forward to Japan participating in the performance-linked incentive (PLI) scheme for 13 key sectors, he told the 44th India-Japan Business Cooperation Committee Meeting.

The meeting was organized by the Federation of Indian Chambers of Commerce and Industry (FICCI).

Japan is one of the key investors in India with a cumulative investment of more than $30 billion, which represents 7.05 per cent of the cumulative inflows received till date, he said.

"India-Japan investment promotion partnership focuses on the next generation infrastructure, connectivity, smart cities, manufacturing, rejuvenation of river, water security with special interest to India," Mohapatra was quoted as saying by a FICCI press release.

India and Japan are collaborating in the form of an industrial competitiveness partnership that will work towards enhancing India's industrial competitiveness.

The COVID-19 pandemic, has led to foreign exports to Japan, and this provides India with a unique opportunity to attract fresh Japanese investments, he added.

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