Japanese business leaders and investors recently said India is an attractive manufacturing & export base that has a huge potential for business but sought more "free and open" investment climate and relaxation of land acquisition policies.
Chairman of Keidanren (Japan Business Federation), Japan's most influential business lobby, Sadayuki Sakakibara said, "There is a high potential ahead for the bilateral collaboration to reach its full potential. There is a need for further improvemennt. There is a need for free and open investment climate," he said.
He also noted the progress made on Goods and Services Tax (GST) in India.
He appreciated Mr. Modi's campaign like 'Make in India' and 'Digital India'. He said the ninth meeting of India-Japan Business Forum, had made a number of recommendation and these should be implemented.
Akio Mimura, Chairman of Japan Chamber of Commerce and Industries, said he looks forward to building economic ties. He appreciated India's reform measures and referred to Delhi Mumbai Industrial Corridor (DMIC), saying it is the symbol of India-Japan cooperation. He said there is need to invest further in such mega projects. The bilateral trade between the two countries stood at USD 14.51 billion in 2015-16. India received USD 20.96 billion FDI from Japan during April 2000 and March 2016.
Original Source: dailyshippingtimes.com
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