6 days ago
Japan Invests Rs 1 Lakh Crore Toward India Target
Japan promised to invest a large amount of money in India over ten years.
The planned investment is about Rs 7 lakh crore.
Piyush Goyal said Japan has already invested about Rs 1 lakh crore in around ten months.
He described Japan as an important partner for India.
India and Japan may soon review trade agreements made in 2011.
India is worried because it is buying more from Japan than it sells to Japan.
The two countries have not yet decided the exact topics for the review.
India says it is willing to make its economic relationship with Japan broader and larger.
Japan has invested about Rs 1 lakh crore in India over roughly 10 months.
The investment represents part of Japan’s 10 trillion yen, or about Rs 7 lakh crore, ten-year target.
Commerce Minister Piyush Goyal called Japan one of India’s most strategic partners.
India and Japan are expected to review their 2011 trade agreements.
India is concerned about its widening trade deficit with Japan.
- Who
- Union Commerce and Industry Minister Piyush Goyal discussed India’s economic relationship with Japan.
- What
- Japan has invested about Rs 1 lakh crore toward a planned Rs 7 lakh crore investment in India over ten years.
- Where
- Nagoya, Japan, at the India-Japan Next Generation Economic Partnership event.
- When
- The statement was made on Wednesday; the investment was described as having occurred over about ten months.
- Why
- India wants to expand its strategic and economic engagement with Japan while addressing concerns about a widening trade deficit.
Partnership Expansion
Trade Deficit Concern
Future economic engagement
Partnership Expansion
Piyush Goyal said India is open to expanding the scope, scale and extent of its engagement with Japan, which he described as one of India’s most strategic partners.
Trade Deficit Concern
India’s concern over a widening trade deficit with Japan could make the review of existing trade arrangements more contentious.
Trade agreement review
Partnership Expansion
The expected review could provide an opportunity to broaden economic cooperation between the two countries.
Trade Deficit Concern
India is expected to examine the 2011 trade deals amid concerns that the current trading relationship is unfavorable to India.
Key facts
- Announced investment target
- 10 trillion yen, approximately Rs 7 lakh crore, over one decade
- Investment received
- About Rs 1 lakh crore in roughly 10 months
- Indian minister
- Piyush Goyal, Union Commerce and Industry Minister
- Trade agreements
- India and Japan are expected to review agreements made in 2011
- India’s concern
- A widening trade deficit with Japan
- Event location
- Nagoya, Japan
Quotes
Piyush Goyal
India’s Union Commerce and Industry Minister
“We haven’t got down to work on terms of reference, but I think once the teams have discussed, we will be open to expanding the scope, scale and the extent of the engagement because Japan today is one of our most strategic partners”
indianexpress.com
Sources
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