Mumbai: India has sought to expand co-operation
with a technologically advanced Japan through a comprehensive
economic partnership agreement, as well as stepped-up
the Japanese Diet (Parliament), visiting prime minister
Manmohan Singh underscored the need for the two countries
to build relations on a sound economic foundation.
said trade and investment ties between the two "civilisational
neighbours" were well below potential. In fact,
it was three times lower than China''s trade with India,
while Korea''s trade with India was almost equal to Japan''s
trade with India, he added.
minister (Shinzo) Abe and I will launch negotiations
that will lead to a comprehensive economic partnership
agreement to encourage greater flows of trade, investment
and technology between our two countries," he said.
cited the dynamics of Japanese car maker Suzuki in the
Indian car market, which over two decades ago partnered
the Indian government to float Maruti.
assured Japanese investors of an investment-friendly
economic environment and invited Japanese companies
to expand their presence in India.
he said, is a profitable investment destination, which
will require fund inflows to the tune of $500 billion
over the next five years. He asked Japanese companies
to seize the opportunity and assured them of addressing
"all their legitimate concerns."
Japanese companies have a "historic status'''' of
being the most important
business partners of India - participating in both private
and public-private partnership. The prime minister also
outlined various investment-support measures undertaken
by his government like creating provision for grant
assistance through a specially created ''viability gap