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PC woos Japanese companies

Finance Minister P Chidambaram met representatives of Japanese companies as part of the government's efforts to attract investments.

india Updated: Jan 19, 2006 20:50 IST

Finance Minister P Chidambaram on Thursday met representatives of key Japanese companies as part of the Indian government's efforts to attract investments from that country, particularly in infrastructure and financial services.

Chidambaram, now on a visit to Japan, had detailed meetings with representatives of leading Japanese companies including Mitsui, Mitsubishi Chemcials, Mizuho Bank, Toshiba, Marubeni Corporation and Nomura Securities.

At an interaction with the media at the Japanese Press Clubin Tokyoon Wednesday, he had said strong economic fundamentals have made India a major global hub for diverse business interests.

He said that Japanese companies like Kansai Paints and Daihatsu are planning to invest heavily in the coming years, besides Mitsubishi Chemicals, Toyota and Honda.

Right now, Japanese FDI in India is prominent in key sectors like automobile and electronics, Chidambaram had said and cited the names of Mitsubishi, Suzuki, Toyota, Sony and National.

Chidambaram also met his Japanese counterpart Sadakazu Tanigaki and discussed the global economic outlook.

The two finance ministers apprised each other of the macro economic developments in the two Asian countries.

India has distinguished itself as one of the fastest growing world economies. Since 2003-04, it has embarked on a steep, high-growth trajectory.

Chidambaram also called on Japanese Chief Cabinet Secretary Shinzo Abe, who is the number two in the Japanese Cabinet before leaving back home.

First Published: Jan 19, 2006 20:34 IST