As per officials estimates, the bilateral trade between India and Japan stood at $16.31 billion by end of fiscal 2013-14 but the Chamber feels that with Prime Minister Modi's concerted and protracted successful talks with his counterpart in Japan have acquired a special fillip and momentum to further push up the two-way trade in India and Japan's emerging trade and economic ties.
According to President of PHD Chamber Mr. Sharad Jaipuria, currently, about 1,000 Japanese companies are operating in India in nearly 70 infrastructure projects among which Delhi-Mumbai Industrial Corridor project is one such project in which Japan has so far invested $4.5 billion.
We expect that in future Indo-Japan ties would further cement, motivating the latter companies number going up from 1,000 to over 1,500 in next five years and India agreeing to allow these companies to operate on its exclusive economic zones to enable them export their produce and products, making it a hub for their manufacturing which will not only benefit them but also equally profit the domestic utilities in public and private sector in our country, said Mr. Jaipuria.
The PHD Chamber is of the view that though India and Japan enjoyed good and friendly relations in the past and that is one reason making Japanese companies to invest in India. With the conclusion of the current visit of Prime Minister Modi to Japan, the relationship would henceforth move from being friendly to cordial and naturally push up the trade to levels of their potential which is so vast and enormous.
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