The Hindu Business Line : PM seeks more investments from Japanese cos

Welcoming the renewed interest among Japanese Companies for investing in India, the Prime Minister, Dr Manmohan Singh, on Monday said that he hoped that Japan would invest in more projects like the Delhi Metro and Dedicated Rail Freight Corridor (DFC).

Addressing a high-powered business delegation, including chairmen of major Japanese companies, led by the Japan’s Minister of Economy, Trade and Industry, Mr Akira Amari, the Prime Minister said the Centre is working closely with State Governments concerned to ensure early and speedy implementation of the DFC and Delhi-Mumbai Industrial Corridor (DMIC) projects, which is supported by Japanese funding.

“India hopes Japanese capital, technology and enterprise will play an important role in helping us realise our growth potential,” Dr Singh said.

Tapping savings

Mr Taizo Nishimuro, Chairman of the Board of Tokyo Stock Exchange, informed the Prime Minister that Japanese companies could use Japanese Deposit Receipts (JDRs) to tap nearly $13 trillion of Japanese household savings for investment in India. Dr Singh welcomed this new initiative and hoped that the JDRs would help finance projects in the DMIC.

Both Dr Singh and Mr Amari expressed satisfaction with the on-going dialogue on cooperation in energy, especially in developing clean coal and energy-efficient technologies. Dr Singh also welcomed the Japanese Prime Minister, Mr Shinzo Abe’s, initiative on climate change, which recognised the development aspirations of poor countries. He said that strategies to manage global warming must ensure “sustainable development and sustainable globalisation”.

The Prime Minister requested Japan External Trade Organisation to encourage small and medium enterprises from Japan to also invest in India. He welcomed Japan’s proposal to set up a high powered economic research institute focused on East Asian economies.

More Stories on : Foreign Direct Investment | Foreign Trade

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