ibnlive » Business

Sep 12, 2007 at 11:02am IST

Jap PM keen on signing economic pact with India

New Delhi: Japan's Prime Minister Shinzo Abe has arrived in New Delhi on a three-day visit. Japanese diplomatic sources say central to his talks with Indian leaders will be cooperation in Asia.

Both sides will be looking at how to implement other aspects of their strategic partnership, especially in terms of business.

India will be looking for a strong statement of support from Abe at the Nuclear Suppliers Group.

The two sides could formalise the proposal for Japan to invest $90 billion in an Industrial corridor from Delhi to Mumbai.

Abe said New Delhi should address issues relating "rules of origin and tariffs" to facilitate early signing of the Economic Partnership Agreement -- which according to Indian officials is expected to happen by middle of next year.

He also said Japanese companies were keen to invest in India, especially through the Delhi-Mumbai industrial and freight corridors, besides other mega projects, and wanted a "conducive environment" for such economic activities.

Prime Minister Manmohan Singh assured Japanese industry captains that New Delhi would remove all hurdles in the way of close economic engagement between the two countries.

"I truly believe that such engagement between Asia's largest democracy and its most developed one, will create an arc of advantage and prosperity throughout Asia," he was quoted by news agency PTI as saying.

(With inputs from PTI)

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