Monday, July 28, 2008

Second India-Japan strategic dialogue on economic issues

by Ed Roberts

Indian delegation led by Dr. D. Subbarao, Finance Secretary and Mr. M.Kohno, Deputy Minister, Ministry of Foreign Affairs of Japan, participated in the Second India-Japan Strategic Dialogue on Economic Issues, which was held in Tokyo, last week.

The two sides discussed on Japanese support for two flagship infrastructure projects, which include, Delhi-Mumbai Dedicated Freight Corridor; and Delhi-Mumbai Industrial Corridor. Japanese support for the new IIT coming up at Hyderabad as well as collaboration in information and technology and basic science research were the other items of the agenda. This dialogue assumes significance as it sets the agenda for the visit of Prime Minister Manmohan Singh to Japan in October, 2008.

Apart from the Finance Secretary, H.K.Singh, Indian Ambassador to Japan, Sanjay Krishna, Joint Secretary in the Ministry of Finance and R.Ramanujam, Minister(Economic) in the Indian Embassy, also participated in the dialogue.

Indian Finance Secretary also addressed a Roundtable Conference of a select group of Japanese businessmen, industrialists, bankers and financial analysts. The Finance Secretary said that Japanese investment in India, although sizeable, is still far short of the potential of Japan to invest or the capacity of India to absorb.

India, he said, offers a huge market with a growing middle class and rising incomes, and, hence, very rewarding investment opportunities, particularly in the infrastructure sectors. There is need to exploit the natural complementarities between India and Japan and increase Japanese engagement in India to the mutual advantage of both countries.

 

 

 

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