Japan looks to India, China to foster growth

Japan is increasingly looking to Asian growth leaders as China and India assume greater role in the country's trade-led growth.

Addressing a gathering at the Center for Northeast Asian Policy Studies at Brookings Institute, Ichiro Fujisaki, ambassador of Japan to the United States, said it was very important for Japan to identify India and China as major partners.

Fujisaki said, like China, India too has huge untapped potential and that was why Japan continues to invest in that country. Also, he said, Japan respected India very much as the biggest democracy in the world.

"India is also a very important partner. I think that's one of the biggest recipients of official development assistance (from Japan)," Fujisaki said.

He cited the example of Japanese investments in the north-south rail corridor project as also the industrial cluster project in India to drive home the point.

"I have gone myself and discussed the possibility of large-scale projects as well. We are talking about the plan of transportation between Mumbai and Delhi," he said.