PM asks Japan Inc to invest in Indian infrastructure - Hindustan Times
close_game
close_game

PM asks Japan Inc to invest in Indian infrastructure

Hindustan Times | ByPramit Pal Chaudhuri, Tokyo
Oct 25, 2010 09:57 PM IST

Prime Minister Manmohan Singh made a strong plea for a “much greater role by Japanese industry” in the development of India’s “economic infrastructure”. Singh was addressing the Japanese business organisation, Nippon Keidanren, in Tokyo on Monday.

Prime Minister Manmohan Singh made a strong plea for a “much greater role by Japanese industry” in the development of India’s “economic infrastructure”. Singh was addressing the Japanese business organisation, Nippon Keidanren, in Tokyo on Monday.

HT Image
HT Image

India needed foreign capital to help it close its “infrastructure deficit,” he said. He said Japan was already active on this front: it had financed the Delhi Metro and similar projects in three other Indian cities. “Japan is our partner of choice in the Delhi-Mumbai Industrial Corridor project,” he said.

Hindustan Times - your fastest source for breaking news! Read now.

But India hoped to get more investment to develop “new capacity in manufacturing and infrastructure sectors and freer flow of high-end technologies.”

Singh specifically mentioned Japan’s leadership in “energy efficient technologies,” including nuclear power. He urged Japanese industry to invest in the “smart communities” that India hopes to build along the industrial corridor.

Singh said India’s young population, economic growth and market size “combine well” with Japan’s “technological prowess, manufacturing skills and financial resources”. The pairing would be a “win-win” for both countries.

Though their quantum of investment into India has increased dramatically, it is known that Japanese firms have felt constrained by the problems of land acquisition, labour agitation and bureaucracy in general. Singh sought to address the concerns by noting various reforms India was carrying out to “create a favourable investment environment” and “facilitate higher investment flows.”

These included changes in taxes, capital markets, education and finance.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Sunday, March 17, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On