For Japan, India is the place to invest in | business | Hindustan Times
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For Japan, India is the place to invest in

business Updated: Sep 07, 2011 23:03 IST
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Japan’s new Prime Minister, Yoshihiko Noda, said on Tuesday that India is a promising investment destination and more and more Japanese companies look at investing in India.

While addressing a gathering of over two thousand businessmen from India and Japan at the India-Japan global partnership summit 2011, Noda said, “Japan is looking forward to further its trade and investment ties with India and more and more Japanese firms look forward to investing in India.”

"More than 700 Japanese companies have already been doing business in India and even more companies look to India as a promising investment destination," he said, adding that he looks forward to further increase of trade and investment between the two countries.

Noda said that Japan would like to contribute to further development of India, which is already showing an incredible rise. In particular, he mentioned about the Delhi-Mumbai freight and industrial corridor project, which has been promised a $4.5 billion assistance to the Delhi-Mumbai Industrial Corridor (DMIC).

“I hope that the yen loan assistance to the dedicated freight corridor and the Delhi-Mumbai Industrial Corridor (DMIC) will produce fruitful results,” he said.

Talking about the bilateral relations, Noda said, “The India-Japan comprehensive economic partnership agreement, which came into force in August is a symbol of such economic relationship.” “Next year marks the 60th anniversary of our bilateral diplomatic relations and I look forward to further strengthening of our bilateral ties in the coming years.”

Stating that both India and Japan share universal values like democracy, rule of law and market economy, Noda said “We are determined to see Japan and India — the two largest democracies in Asia — to further deepen their co-operation based on the strategic global partnership that the two countries announced in 2006.”