Industry & Economy
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Foreign Direct Investment
Japan keen on investing more in India
Our Bureau
New Delhi
,
April 3
Japan has expressed interest to invest more in several sectors, such as development of more metro rails, construction projects, power equipments, textile machinery and especially food processing, apart from their already strong presence in the automobile sector, the Minister of State for Industries, Dr Ashwani Kumar, told reporters here today.
The Minister met the Vice Minister (Parliamentary) for Foreign Affairs, Mr Kiyohito Toyama and the Chairman of the Special Mission Committee on Free Trade Agreements of Japan.
The meetings, which were a prelude to the forthcoming visit of the Prime Minister of India to Japan in May, Dr Ashwani Kumar said. A business delegation is also expected to accompany the Prime Minister on his visit to further strengthen business-to-business contacts, he said.
"In view of the raw material, packaging and human resource advantages offered by India, it has the potential to become the food processing hub for the world. It is estimated that an investment opportunity of $22 billion exists in this sector in India for the next 10 years.
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