TRADE AND INVESTMENT TIES WITH JAPAN – KAMAL NATH LEAVES FOR TOKYO TONIGHT
Date : 11 Apr 2005
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce & Industry, is leaving for Tokyo tonight on an official visit that is aimed at boosting trade and investment ties with Japan. During his visit, Shri Kamal Nath is scheduled to call on the Prime Minister of Japan, Mr. Junichiro Koizumi on Thursday, 14th April, 2005. He will also have bilateral meetings on the same day with Mr. Shoichi Nakagawa, Minister of Economy, Trade and Industry (METI); Mr. Yoshinobu Shimamura, Minister of Agriculture, Forestry and Fisheries and Mr. Sadakazu Tanigaki, Finance Minister.
Shri Ashok Jha, Secretary, Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce and Industry, is accompanying the Minister along with a high-powered business delegation of the Federation of Indian Chambers of Commerce & Industry (FICCI) CEOs led by Shri Onkar S. Kanwar, President, FICCI, to participate in the Destination India Seminar at Tokyo, being jointly organised by FICCI and DIPP from the Indian side and Japan Chamber of Commerce & Industry from 13th to 14th April, 2005. The Seminar, to be inaugurated by Shri Kamal Nath on Wednesday, 13th April, 2005 will also be attended by Mr. Kazumasa Kusaka, Vice Minister for International Affairs (METI) of Japan along with over 250 Japanese companies. The Indian business delegation will participate with representation from key sectors of the knowledge-based industries including drugs & pharmaceuticals, information technology and related services, R&D, etc. Other sectors include textiles, power & energy, environment, food processing, consumer products, electrical equipment, metallurgy and transport.
With a strong representation from the Indian industry, Shri Kamal Nath’s visit would help in promoting investment flows from Japan to India and give a renewed thrust to bilateral trade and economic cooperation.
India’s overall trade with Japan in 2003-04 was of the order of US $ 4356 million ($ 4.3 billion). Of this, India’s exports to Japan amounted to US $ 1714 million ($ 1.7 billion) and India’s imports from Japan amounted to US $ 2642 million ($ 2.6 billion). Japanese FDI inflows into India are US $ 1.9 billion, representing a share of 7.3% in the total FDI inflows into India.