The Hindu Business Line : `Power, roads good investment sectors for Japan in India'

Mr Nobuo Ohashi, Chairman, JIBCC (2nd from left), with Ms Geetanjali Kirloskar, Co-Chairperson; the FICCI President, Mr Saroj K. Poddar; and Mr Ajay Dua, Secretary, Department of Industrial Policy and Promotion, during the 33rd Joint Meeting of India-Japan Business Cooperation Committees in the Capital on Monday. — Kamal Narang

New Delhi , Jan. 23

THE electricity and road sectors hold vast investment potential for Japan, said Dr Ajay Dua, Secretary, Department of Industry Policy and Promotion, on Monday.

Dr Dua was inaugurating the 33rd joint meeting of the India-Japan Business Cooperation Committee organised by the Federation of Indian Chambers of Commerce and Industry.

The Secretary said the transmission sector was now fully open to foreign investment and power trading had been allowed to enable distribution companies to sell power to any bulk consumer.

Dr Dua highlighted the growing volume of trade between the two countries. He said India's imports from Japan stood at $2.4 billion against its exports to Japan at $ 1.8 billion. He said Japan was the third biggest investor in India and the country was the largest recipient of Japanese Official Development Assistance. The flow of investment to India is based on sound economic considerations and indicated that India offered a safe and sound business environment.

The Japanese Ambassador, Mr Yasukuni Ohashi, said the Japanese business presence in India had increased from 230 companies in 2004 to 330. This could go up more if the Indian government speeded up further liberalisation of the economy, especially in the retail sector, he said.

More Stories on : Foreign Direct Investment

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page