Tidal wave hits Japan, but ties with India seen safe | business | Hindustan Times
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Tidal wave hits Japan, but ties with India seen safe

business Updated: Mar 12, 2011 00:42 IST
HT Correspondent

The tsunami in Japan is unlikely to have any major impact on trade and investment between India and the far-eastern country.

Japanese companies have invested heavily in India-especially in automobiles, engineering and electronics space- but it is unlikely that the latest natural calamity will have any major impact on planned Japanese investment into India, a top government official, who did not wish to be identified, said.http://www.hindustantimes.com/Images/HTEditImages/Images/12_03_biz1.jpg

Planning commission deputy chairperson Montek Singh Ahluwalia was more circumspect. "I won't speculate. It is very difficult to say whether it will have impact for a year as whole or not, it is difficult to project," he said on Friday.

Japanese companies are also planning major investments on the proposed the 1,483-km Delhi-Mumbai Industrial Corridor, for which India and Japan had inked an agreement in December 2009 with an initial corpus Rs 1,000 crore (about $212 milion) with equal contribution.

"The tsunami will not affect the project," the official said.

Japan is India's fourth largest trading partner-after China, USA and the UK. It is also the sixth-largest source of foreign direct investment in India.