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Even as Chinese Premier Li Keqiang is to set foot on Indian soil his first in any foreign country after taking over the number two position in the new Chinese hierarchy, India demonstrated wariness with close engagement with Chinas bitter rival Japan. Anand Sharma, Minister of Commerce and Industry conferred with his counterpart Toshimitsu Motegi Minister of Economy, Trade and Industry, Japan in Tokyo in preparation of the Prime Minister Dr Man Mohan Singhs visit to that country. The visit itself is likely to get a top billing as the Japanese are leaving no stone unturned with preparations made during the Deputy Prime Minister Taro Asos visit to New Delhi in April having laid out the road map which sees Dr Man Mohan Singh staying for an additional period in that country.
Indian Prime Ministers visit is likely to see extension of economic engagement with Tokyo which has gained in confidence with the Japanese economy demonstrating strong trends of revival after years of recession. Minister for Commerce, Industry and Textiles Shri Anand Sharma also called on Japanese PM Mr. Shinzo Abe, and apprised him of the progress made in the implementation of the Delhi Mumbai Industrial Corridor (DMIC) project, which was conceptualised in the 2007 visit of Mr. Abe to India as per a Press Information Bureau release. Japan has taken 26% equity in the Delhi Mumbai Industrial Corridor Development Corporation creating a new paradigm of economic cooperation based on collaboration in innovation, technology and manufacturing under the framework of the strategic global partnership between the two countries as per Minister Sharm. Shri Sharma also mentioned that India was looking forward to welcoming the Emperor and Empress of Japan to India during this year.
Shri Sharma also met Japanese Foreign Minister Fumio Kishida and expressed satisfaction on the healthy growth of trade after the signing of Comprehensive Economic Partnership Agreement (CEPA) between the two countries. However, he flagged concerns of India relating to mounting trade deficit and specially urged for market access for Indian agricultural and marine produce and Indian pharmaceuticals. The Japanese pharma market is projected to grow to USD 100 billion and Indian generics can play a key role in providing affordable healthcare.
Top Japanese company CEOs including those from Mitsubishi, Hitachi, New Energy and Industrial Technology Development Organization (NEDO) made a detailed presentation to Shri Sharma on the progress of the project implementation. The CEO of Japan Bank of International Cooperation (JBIC), Mr. Hiroshi Watanabe also met Shri Sharma assuring him of full financial support for the DMICDC project and other infrastructure projects in India as per the press release.
With the Japanese keen to expand their relations with India in multiple dimensions and overcoming some of their shyness on investing in the Indian economy as in the past, the Indo Japan summit may assume considerable significance in the economic apart from the strategic dimension that the Japanese seem to be very keen to project. On his part Dr Man Mohan Singh may be less inhibited to visit Japan after that of the Chinese Prime Minister to New Delhi.
Indian Prime Ministers visit is likely to see extension of economic engagement with Tokyo which has gained in confidence with the Japanese economy demonstrating strong trends of revival after years of recession. Minister for Commerce, Industry and Textiles Shri Anand Sharma also called on Japanese PM Mr. Shinzo Abe, and apprised him of the progress made in the implementation of the Delhi Mumbai Industrial Corridor (DMIC) project, which was conceptualised in the 2007 visit of Mr. Abe to India as per a Press Information Bureau release. Japan has taken 26% equity in the Delhi Mumbai Industrial Corridor Development Corporation creating a new paradigm of economic cooperation based on collaboration in innovation, technology and manufacturing under the framework of the strategic global partnership between the two countries as per Minister Sharm. Shri Sharma also mentioned that India was looking forward to welcoming the Emperor and Empress of Japan to India during this year.
Shri Sharma also met Japanese Foreign Minister Fumio Kishida and expressed satisfaction on the healthy growth of trade after the signing of Comprehensive Economic Partnership Agreement (CEPA) between the two countries. However, he flagged concerns of India relating to mounting trade deficit and specially urged for market access for Indian agricultural and marine produce and Indian pharmaceuticals. The Japanese pharma market is projected to grow to USD 100 billion and Indian generics can play a key role in providing affordable healthcare.
Top Japanese company CEOs including those from Mitsubishi, Hitachi, New Energy and Industrial Technology Development Organization (NEDO) made a detailed presentation to Shri Sharma on the progress of the project implementation. The CEO of Japan Bank of International Cooperation (JBIC), Mr. Hiroshi Watanabe also met Shri Sharma assuring him of full financial support for the DMICDC project and other infrastructure projects in India as per the press release.
With the Japanese keen to expand their relations with India in multiple dimensions and overcoming some of their shyness on investing in the Indian economy as in the past, the Indo Japan summit may assume considerable significance in the economic apart from the strategic dimension that the Japanese seem to be very keen to project. On his part Dr Man Mohan Singh may be less inhibited to visit Japan after that of the Chinese Prime Minister to New Delhi.
