will consider setting up special economic zones to attract
Japanese investment in the country, Union commerce and
industry minister Kamal Nath said on Thursday. The decision
followed two days of talks with his Japanese counterpart
Toshihiro Nikai on the sidelines of a World Economic Forum
on East Asia in Tokyo.
are under way to set up a "Japanese industrial cluster,
like a Japanese city" in Haryana in northern India,
where employees of Japanese companies and their families
can receive facilities for education, medical treatment
and entertainment, Nath said.
will also back a "one village, one product"
campaign in Madhya Pradesh to market specialty goods made
by local businesses. Japan and India will also hold reciprocal
fashion shows to promote their textile industries.
two also proposed an action plan to further activate bilateral
economic cooperation by promoting investments by Japan''s
small and medium enterprises in India.
two countries will expand cooperation in the fields of
environment and energy conservation through technology
tie-ups with local firms. While this will help "internationalise
technologies of Japan''s small and medium-sized enterprises",
Nath said Japan''s advanced technological innovation and
workforce "can be synergised into a win-win situation
for both countries".
and India will hold the first seminar on energy conservation
in October or November in New Delhi and the second one
in Japan next year.
Japanese companies have known India, been in India for
a long time," Nath said. "But the small and
medium-sized enterprises which are a repository of technology
and innovation in Japan, we are looking at the Japanese
government facilitating them, the Indian government facilitating
them to invest in India."
the plan, Japan''s Ministry of Economy, Trade and Industry
will launch a service called "India New Window"
to offer information to Japanese firms interested in doing
business in India. The government-supported Japan External
Trade Organisation (JETRO) will also open a third office
in India next month, in Bangalore, like the ones in New
Delhi and Mumbai.
will also have a business support centre in New Delhi
with support from the Japan Finance Corp for Small and
two countries will exchange lists of each other''s companies
to promote business tie-ups and technological cooperation.
is already the fourth-largest foreign direct investor
in India and
the largest institutional investor. Some 328 Japanese
firms are currently operating in India. About 65 per cent
of Japanese investment in the country is in automobiles,
chemicals and electronics.