Indo-Japan ties can do wonders: Japanese PM

  • PTI, New Delhi
  • Updated: Jan 25, 2014 21:46 IST

Japan today pitched for betterties with India in areas such as energy, agriculture and medicine, saying the two "strong" Asian nations can do "wonders" by enhancing economic cooperation.

Tremendous potential exists in both countries to enhance economic cooperation, Japanese prime minister Shinzo Abe said in an address to Indian industry chambers.

"A strong India and a strong Japan can come together and I think we can do wonders...I am confident that there is tremendous potential for cooperation between the two nations," Abe told the CII, Ficci and Assocham.

Abe, who is the chief guest for the Republic Day Parade tomorrow, said businessmen from various sectors, including high-end technologies, are part of the visiting Japanese delegation and they have lot to offer India.

"It is not that only India requires Japan -- Japan also requires India...Japan requires human resources that you have and I request you to visit Japan and see the technologies which Japan can offer you," he added.

Apart from medicines, including those for lifestyle diseases, Japan also has agriculture-related technologies in which there is potential for collaboration, he said.

In energy, Japan has efficient technology that can help to reduce carbon dioxide emissions, Abe said.

Both countries implemented a comprehensive free trade agreement in 2011. Japan is supporting India in modernising infrastructure, including in developing the Delhi-Mumbai Industrial Corridor.

Bilateral trade, which is in Japan's favour, stood at $18.51 billion in 2012-13 as compared to $18.32 billion in the previous year. India received $15 billion in foreign direct investment from Japan from April 2000 to October 2013, which was 7% of the total.

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