Cell for Japanese investment mooted

The ministry of Commerce and Industry will set up a separate cell to deal exclusively with investment from Japan. The decision was taken following a discussion with a high-level business delegation from Japan, led by the Mitsui chairman and head of the India-Japan Business Cooperation Committee which called on Commerce Minister Kamal Nath on Tuesday.

Nath said a special thrust was needed to realise the potential of trade and economic cooperation between the two countries. He agreed that infrastructural inadequacies were the weakest link in India’s investment scenario, but said it could be converted into an investment opportunity.

Regarding Press Note 18, the minister clarified that the concerns of foreign investors would be addressed and assured the delegation that a mutually acceptable arrangement for iron ore export to Japan would be found after the current agreement expired in March.