Trade, investment & technology to lead Indo-Japanese relationship
20 Aug '07
3 min read
The India-Japan strategic partnership should focus more on trade, investment and technology with prominence to economic interest, said Mr. Dinesh Sharma, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry at a meeting on India – Japan Strategic Partnership: Towards New Bilateral Cooperation organised by the Confederation of Indian Industry (CII).
Mr. Sharma said that economic interest should overcome the political interest to build up relationship and formulate trade policy with Japan.
He said that India and China are being looked as major emerging economic power and India should maintain a balance in the relationship with both Japan and China.
The India – Japan relationship has so far been led by the Japanese initiative in providing development assistance, said Mr. Suman Berry, Director General, National Council for Applied Economic Research (NCAER).
Japan has shown interest in portfolio investment but foreign direct investment (FDI) and trade has been substantially below expectations, he said.
Mr. Berry said that India can become the next global manufacturing hub and the Indian industry should organise itself to recognise the potential. He said that Japanese manufacturing skill can create a platform for India to meet the global expectations.
There is an evolved mechanism of economic involvement, which can formulate regional trade architecture, added Mr. Berry. He also mentioned that India hasto find a way to be part of ASEAN – Japan integration to take the advantage of the regional economic development.
marketing@alchempro.com
