As Prime Minister Manmohan Singh prepares to embark on a visit to Japan from Wednesday, industry is upbeat as it says that the two countries can work in a lot of areas, particularly manufacturing sector.
"We have reached a stage where Japan and India are both recognising each other as significant partners," CII President R Seshasayee said in New Delhi.
He said since 2004, 20 MPs have visited Japan, talked about India and highlighted the countries' strengths while meeting topmost politicians and decision-makers of that nation. They have also discussed joint areas of cooperation.
"This has helped put India on the serious mind map of the Japanese and changed the way Japan perceives India today," said the President of the Confederation whose delegation will accompany the Prime Minister on his visit.
CII Director General Lt Gen (Retd) SS Mehta, who will be in the delegation, said that strategically Japan is a "very important and yet under-tapped market" for India. "The focus on Japan can only intensify now," he said.
"There is a lot that we can work on with Japan," he said, identifying manufacturing as one of such sectors considering the quality Japan has in this field.
Recognising the potential for business, the CII will be opening an office in Japan with a Japanese heading it.