Japan to invest $30bn in Indian core sector
26 Jun 2007
Mumbai: Japan's minister for economy, trade and industry, Akira Amari, is leading a delegation, comprising over 60 executives of 15 companies and will visit New Delhi and Mumbai and have meetings with industry bodies like the CII and Ficci.
Japan is likely to announce an investment of $30 billion in infrastructure projects in India towards the end of this month.
The package would include building a high-speed freight railway system between New Delhi and Mumbai, a port in Gujarat, and industrial complexes in Rajasthan.
However, Japanese steel companies, which have long-standing ties with their Indian counterparts, will not be a part of the delegation.
Amari's visit is expected to be followed by Japanese Prime Minister Shinzo Abe's in August. Prime Minister Manmohan Singh visited Tokyo in December and agreed to boost business ties between the two nations.
Sources close to the development said Japan wanted to invest in India's infrastructure and make it a hub for production and exports to Europe and West Asia.