In an initiative to promote Indian manufacturing industry, Finance Minister Arun Jaitley met a group of Japanese CEO’s organized by Japan-India Business Cooperation Committee (JIBCC) to extend India’s interest in collaboration.
Jaitley will also be a keynote speaker at IIES Symposium on Indian Economy. Jaitley also invited Japanese long-term investors to participate in the National Investment and Infrastructure Fund (NIIF). This is done especially to boost our power capacity, to provide succor to our ailing road conditions, revamp port facilities and other infrastructure.
In a roundtable discussion on NIIF, Jaitley has depicted immense opportunities in the infrastructure sector of India and urged them to be a part of India’s growth as their knowledge and expertise is really commendable. In doing so, he has truly earned accolades for embarking a new relationship with the Japs.
In a six-day visit to Japan, FM Jaitley met Japanese Prime Minister Shinzo Abe for accelerating ties with Japan and inviting investors. He also spent time with various bank and pension fund heads like Soft Bank, JBIC, and JOIN to help India achieve its estimated growth rate.
On being asked what are his main expectations, Jaitley has said that we already have thousands of companies investing in India and his plans will be to double it soon. Japanese are in total favor of bilateral deals and thus Jaitley will be meeting various investors throughout his visit.
Hitachi, major electronics industry of Japan, had earlier extended its interest for growing business in India in an effort to boost bilateral trade. Hitachi has been collaborating with India since 1935 when its first office was set up. Now it has 31 business bases across India with more than a thousand employees. In an effort to contribute to Make in India, Hitachi had agreed to invest Rs 47,000cr by 2016.
Jaitley also held various meetings with top officials of The Indian Commerce & Industry Association Japan (ICIJ). There is immense scope in the renewable energy sector and few of the investors are willing to fund in various such projects.
Japanese have invested in India’s interest earlier and our government’s plan is to continue the same, of course with enhanced rates. Let’s see how we are able to achieve this in near future.