Japan ready to invest in India’s infrastructure if it pursues financial reforms
Tokyo: Japanese Prime Minister Shinzo Abe has said the country is willing to cooperate in developing infrastructure in India.
Abe however urged the South Asian nation to pursue financial-sector regulatory reform and improve its tax system in order to increase Japanese investment there, Foreign Ministry officials said.
In a meeting with Indian Finance Minister P. Chidambaram, Abe expressed hope that bilateral cooperation in developing India’s high-speed railway system and the Delhi-Mumbai Industrial Corridor will further be promoted, Japan Times reports.
The industrial corridor is a bilateral initiative that was agreed in 2006 to build a freight railway linking the two major Indian cities and industrial complexes along the rail corridor.
Abe at the outset of the meeting at his office said that the relationship between Japan and India is filled with potential.
According to the report, Chidambaram expressed hope that Japan will cooperate in developing India’s infrastructure by utilizing Japanese technologies and that more Japanese companies will set up local operations.