CII delegation to visit Japan from June 14
Aimed at further strengthening Indo-Japan trade ties, a high-level 15-member CEOs' delegation would visit Tokyo from June 14-16.india Updated: Jun 11, 2006 10:23 IST
Aimed at further strengthening Indo-Japan trade ties, a high-level 15-member CEOs' delegation would visit Tokyo from June 14-16.
"India and Japan have enjoyed vibrant trading relations in the past. However, over the past decade, India-Japan has tended to stagnate and even decline...", CII President R Seshasayee was quoted as saying in a CII release.
Seshasayee, who will lead the delegation, said the turnover in bilateral trade declined to $3.7 billion in 2002-03 compared to $4.04 billion in 1997-98.
"Over the past two years, however, this tendency towards stagnation was reversed, with total trade growing by 18 per cent in 2003-04 and by 14 per cent in 2004-05 to reach nearly $5 billion," he said.
The main aim of the CII mission would be to appraise the Japanese counterparts about India's growth story and identify other means to enhance bilateral trade across sectors to realise the bilateral trade potential, Seshasayee said.
Bilateral trade between India and Japan is on the rise, which is evident from the increase in the number of joint declarations, delegation visits and other business events between the two countries. Japan is among India's top five trading partners. It has emerged as the fourth largest FDI contributor to India between 1991-2004.
Japan contributes around eight per cent to India's total technical collaboration with foreign partners.
The delegation would also participate in the 'India Everywhere' campaign at the East Asia Summit of the World Economic Forum to be attended by Commerce and Industry Minister Kamal Nath during the same time.
The theme of the summit is 'Creating a new agenda for Asian integration.
CEO and MD of Infosys Technologies, Nandan Nilekeni is one of the co-chair at the summit.
First Published: Jun 11, 2006 10:23 IST