'India keen on finalising CEPA by year end'

Commerce and Industry Minister Kamal Nath says the two countries have advanced the target for finalising the terms of CEPA, which will cover goods, services and investments.

India is keen on completing negotiations on a comprehensive economic partnership agreement (CEPA) with Japan by the end of this year.

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Commerce and Industry Minister Kamal Nath on Wednesday said the two countries have advanced the target for finalising the terms of CEPA, which will cover goods, services and investments.

"We will have two rounds of two meeting each. The next meeting would be on September 3 in Tokyo. We are looking to complete it (CEPA) by this year, advancing the target date," Nath said in New Delhi.

He also sought five billion dollar foreign direct investment from Japan in different sectors of Indian economy, especially in the infrastructure sector.

Having funded the prestigious Delhi Metro project, Japan will be a key financing partner for Delhi-Mumbai Dedicated Rail Freight Corridor and also industrial enclaves around it.

The industrial corridor, for which a separate company will be floated, will have a capital outlay of 90 billion dollars.

For boosting mutual investment and merchandise trade, the two countries are launching Japan-India CEO's Forum, comprising chief executive officers of top Indian and Japanese firms like Infosys Technologies and Mitsubishi Corporation.