The Hindu : Business : Plan to attract Japanese investment

Online edition of India's National Newspaper
Saturday, Jun 17, 2006

Business

Business

Plan to attract Japanese investment

P. S. Suryanarayana

Focus on SEZs and SMEs proposed

SINGAPORE: An "action plan'' to promote Japanese investments in India, with the focus on small and medium enterprises (SMEs), has been chalked out in Tokyo by Japan's Economy, Trade, and Industry Minister Toshihiro Nikai and India's Commerce and Industry Minister Kamal Nath.

Under the accord, the two countries will "explore'' possible means to "meet the needs of Japanese investors'' in India's special economic zones and industrial parks.

In a joint statement issued after their talks in Tokyo, the two ministers agreed to "make utmost effort to utilise [Japan's] the Official Development Assistance (ODA) to address India's needs" in a fashion that would be of "strategic importance for both countries.''

These two politically resonant aspects were spelt out as key aspects of building a "supporting platform for a better trade and investment climate in India" that Japanese SMEs could tap.

Mr. Kamal Nath, who attended an India-Japan Business Summit, held talks with Japanese ministers on Thursday and Friday. Expressing satisfaction over the progress made towards evolving a comprehensive economic partnership agreement, the two ministers outlined a series of steps to heighten the awareness of Japanese investors about economic opportunities in India.

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