Japanese PM for concrete steps to raise bilateral trade

Mumbai: Japanese Prime Minister Yukio Hatoyama on Monday pitched for intensifying bilateral trade with India, particularly in infrastructure and technology, during his meetings with the doyens of Indian business and industry.

"The PM called for concrete steps to enhance and strengthen the bilateral trade between both nations. Besides, he also asked for a closer cooperation in the areas of nuclear energy, R&D and infrastructure projects," Shipping Corporation of India Chairman and MD S Hajara, part of a CII-delegation meeting the visiting dignitary said.

In 2008-09, the Indo-Japan bilateral trade stood at around USD 12 billion and is expected to grow further by next year.

Noting that Japanese investment in India was still much lower than that in China, Hatoyama said there was vast scope for infusing larger resources into sectors of potential growth, primarily infrastructure.

The premier held separate meetings with Reliance Industries Chairman Mukesh Ambani, Tata Group Chairman Ratan Tata, and also met a CII delegation and Gujarat Chief Minister Narendra Modi.

The closed-door meeting between Hatoyama and Tata came in the backdrop of healthy market response to the recently- launched joint venture between Tata Teleservices and Japanese telecom giant NTT DOCOMO.