Anand Sharma discusses DMIC project with Japanese PM

Tuesday, February 15, 2011

TOKYO - Union Commerce and Industry Minister Anand Sharma met Japanese Prime Minister Naoto Kan here today and discussed various issues including theelhi-Mumbai Industrial Corridor (DMIC) project.

During the meeting, Sharma highlighted the importance of the Delhi Mumbai Industrial Corridor Project, which has now decisively moved from the stage of master planning to project implementation.

This project, which will see investments of over 100 billion dollars, is being seen as a flagship initiative of partnership between India and Japan.

Sharma proposed the establishment of a revolving fund of nine billion dollars with matching contribution from Indian and Japanese side to kick-start the implementation process.

Japanese Prime Minister agreed to enhance the financial contribution of Japan and was positively receptive to the suggestion.

Sharma also urged for greater Japanese investments in areas of core infrastructure and capital goods equipment including power generation where Japanese companies have a technological edge.

During the twenty minutes long meeting, Sharma said: “India viewed a partnership with Japan as a ’strategic engagement’ in the region and in the global context. This would be central to the vision of Asian integration articulated by Prime Minister Dr. Manmohan Singh.”

Prime Minister Kan also expressed satisfaction on the conclusion of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Japan, which is being signed tomorrow.

Kan also underscored the significance of Indo Japanese technology collaboration for research and innovation.

Sharma is in Tokyo on a two-day visit, accompanied by a high level official delegation including the Commerce Secretary and a CII CEO’s delegation led by CII President Hari Bharatia.

Sharma will be signing the CEPA along with the Japanese Foreign Minister Maehara.

He will also hold substantive bilateral meetings with the METI minister to review the progress of DMICDC project.

He will be interacting with top Japanese CEOs to seek Japanese investments in India in areas of priority as identified at the Summit level interaction between the Prime Ministers. (ANI)

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