India's Commerce and Industry Minister Kamal Nath on Thursday said the two countries could play a pivotal role in shaping Asia's future and asked Japanese industry to take advantage of the opportunities being thrown open in his "resurgent" nation.
"The young and resurgent India has a lot to offer to Japan," Kamal Nath, who is part of Prime Minister Manmohan Singh's high-level official delegation which is on a four-day visit in Tokyo, told an "India Evening" event.
The commerce minister said the Japanese industry could particularly benefit from India's skilled manpower, low-cost production and a healthy market growth, which would give them a competitive edge in the world market.
"On the other hand, Japan offers to the Indian investor innovative technologies, world-class communication amenities, highly reliable logistic infrastructure and other investor-friendly facilities," he said.
"Over 70 Indian IT companies have already established their offices in Japan. I see that number growing in the India-Japan friendship year."
According to Kamal Nath, trade between the two nations had increased sharply in recent years.
India's exports to Japan $2.46 billion in 2005-06, while imports were pegged at $3.55 billion. In the previous fiscal, while the corresponding figures stood at $2.13 billion and $3.24 billion.