May 2, 2015: The Commerce Minister of India Nirmala Sitharaman and Japanese Minister of Economy, Trade and Industry Yoichi Miyazawa have signed an action agenda for India-Japan investment and trade promotion and Asia-Pacific economic integration in the capital. Speaking on the occasion, the Japanese Trade Minister Yoichi Miyazawa said that the action agenda contains five items that are absolutely integral in furthering the trade relations between India and Japan. The Japanese Trade Minister informed that the five agenda points included in the action agenda are:
i) Development of selected townships in India as Japanese industrial townships.
ii) Promotion of investment and infrastructure development.
iii) Further development and cooperation in information technology.
iv) Enhancing cooperation in strategic sectors.
v) Asia-Pacific economic integration.
The Japanese Minister said that the investments by Japan into Indian companies will double in the next 5 years. He said that signing of this action agenda is a step further in improving the trade relationship between India and Japan as a follow-up of India’s Prime Minister Shri Narendra Modi’s visit to Japan last year.
Nirmala Sitharaman, Commerce Minister, said that signing of action agenda was in line with Prime Minister Narendra Modi’s vision of Make in India. She expressed satisfaction on the progress of trade relationships between India and Japan and said that excellent relations were building up between the two countries which would provide opportunity and potential for people in both the countries as a win-win situation. She said that the interaction with Japanese Trade Minister involved not only both the countries but also had partnership and dialogue between private sector of the two countries represented by a strong delegation CEOs from both the countries.
