Action Agenda for Indo - Japan Investment and Trade Promotion: Key Points

Action Agenda for Indo - Japan Investment and Trade Promotion: Key Points

Question - Make in India initiative will only receive a boost if foreign countries also participate in reviving the economic growth of the country. Discuss the key points of the Action Agenda for Indian-Japan investment and trade promotion and Asia Pacific Economic Integration proposed recently.

• Commerce Minister of India, N. Sitharaman and Japanese minister for economy, trade and industry Y. Miyazawa have signed an Action Agenda for India-Japan investment and trade promotion plus Asia-Pacific economic integration

• Action Agenda contains 5 key points which are integral for furthering trade ties between the 2 nations

• The 5 points are as follows:

- Construction and development of chosen townships in India as Japanese industrial townships
- Boost to investment and infrastructure development
- Enhanced cooperation and development in the IT sector
- Increased cooperation in strategic sectors
- Asia-Pacific economic integration

• It is estimated that investments by Japan into India will double in the coming 5 years

• Trade relations between India and Japan will further improve following this action agenda

• The new action agenda is in concordance with Make in India initiative

• Opportunities will be provided for people of both countries through this agenda

• Agenda also incorporates partnership and dialogue between private sector of two nations

Facts and Stats

• Bilateral trade between India and Japan was pegged at USD 16.29 billion in 2013-2014

• Between April 2000 and February 2015, around USD 18 billion has been received by India as FDI from Japan

• Agenda represents historic milestone in bilateral ties

• In September 2014, it was decided to set a target of doubling Japan’s FDI to India and number of Japanese companies in India within 5 years.