Japan offers JDR route to Indian companies

Board of Tokyo Stock Exchange Chairman Taizo Nishimuro today said Indian companies could use the

Japanese Depository Receipts (JDRs) to tap nearly $13 trillion of Japanese household savings for investments in India.

Nishimuro made the offer during Prime Minister Manmohan Singh's meeting with a Japanese business delegation led by country's Minister of Economy, Trade and Industry Akira Amari.

Welcoming the initiative, Singh hoped JDRs would help finance projects in the Delhi-Mumbai Industrial Corridor (DMIC). He assured the delegation that the government was working closely with the states to ensure early and speedy implementation of the DMIC projects.

"India hopes Japanese capital, technology and enterprise will play an important role in helping us realise our growth potential," he said.

Appreciating the renewed interest of the Japanese companies in investing in India, the PM hoped that Japan would invest in more projects like the Delhi Metro and the Dedicated Rail Freight Corridor (DFC).

In their addresses at the meet, Singh and Amari said the ongoing dialogue on co-operation in energy, especially in developing clean and energy efficient technologies, between the two countries was going apace.

Suzuki Chairman Osamu Suzuki said India was also emerging as an attractive gateway to Europe for Japanese companies.

Japanese Prime Minister Shinzo Abe is visiting India next month.