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Japan intends to diversify its business with India

A Japanese high level business delegation led by the country minister for Economy, Trade and Industry Mr Hiroshige Seko said his country intends to diversify their business in India in sectors like Logistics,Agriculture, Power, Electronics, Railways and in manufacturing of ATMs.

The Japanese delegation which is attending the ongoing Vibrant Gujarat investors Summit in Ahmedabad had a meeting with Commerce Minister Nirmala Sitaraman during their stay in national capital last week.

The Japanese side also expressed interest in enhancing cooperation in the area of intellectual property rights and intended to tain Indian IPR examiners in Japan. the delegation also extended invitation to one hundred IPR examiners from India to be trained in Japan to start with.

The Japanese side requested that the issue of transfer pricing assessment and other issues raied by Japan Chamber of Commerce and Industry in India from time to time need to be resolved for attracting greater Japanese investments in India.

Commerce Minister Nirmala Sitaraman told the Japanese delegation that steps be taken to increase Indian exports to Japane in sesame seeds, Surimi fish and Indian generic drugs. She said that the Japanese Industrial townships coming up in various parts of India would be tranformational and will bring in significant Japanese investment and further strengthen the economic cooperation between the two countries.

On the Logistics front she said India plans to build a Logistics University wherein the cooperation from Japan would be needed. The Minister also expressed confidence that the partnership between the two countrties would be elevated further to new levels with sustained engagement.

She said the pace of implementation of India Japan comprehensive economic partnership agreement has been rather steady and needed to be enhanced with faster pace to tap the huge potential of India Japan bilateral trade,

Japanese Minister for Economis, Trade and Industry Hiroshige Seko said there is huge potential for Indo Japanese cooperation and that as many as 25 Japanese companies are participating in Vibrant Gujarat summit with great enthusiasm.

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