Ministry of Economy, Trade and Industry
Font Size Change
S
M
L

METI Minister Miyazawa Visited India

From April 27 to May 1, 2015, Mr. Yoichi Miyazawa, Minister of Economy, Trade and Industry (METI), visited India along with representatives from 25 companies and reached agreement with the Indian government on the doubling of Japan’s investment in India and the number of Japanese companies expanding into India, concrete actions aimed at further cooperation in the fields of IT and infrastructure, and promotion of economic integration around the Indo-Pacific region from the Asia-Pacific to the Indian Ocean. This is the first high level agreement between the government and private sector of Japan with the government of India.

1. Meeting with Prime Minister Modi

Both Ministers agreed to further strengthen Japan Plus to facilitate Japan’s investment in India, promote investment by enhancing Japan Industrial Townships, cooperate in the fields of infrastructure, resources, energy, and the environment, and promote economic partnership.

Minister Miyazawa suggested the introduction of Shinkansen system into India’s system of high-speed railways and hand-delivered an “action plan” regarding Japan’s investment in India by the 25 companies with representatives accompanying Minister Miyazawa, which were very well received by Prime Minister Modi.



Press Information Bureau, India

2. Meeting with key persons from Indian central governments

(1) Minister Miyazawa and H.E. Ms. Sitharaman, Minister of State for Commerce and Industry

At a bilateral meeting with H.E. Ms. Nirmala Sitharaman, Minister of State for Commerce and Industry, the Ministers exchanged a wide variety of opinions concerning the enhancement of the investment environment for Japanese enterprises, bilateral cooperation in the field of intellectual property aimed at the acceleration of procedures for patent examinations, and aggressive action towards the realization of RCEP, and confirmed that METI and the Indian Ministry of Commerce and Industry will lead the deepening of the economic relationship between Japan and India.

(2) Minister Miyazawa and H.E. Mr. Prasad, Minister of Communications and Information Technology

At a bilateral meeting with H.E. Mr. Ravi Shankar Prasad, Minister of Communications and Information Technology, both sides agreed to deepen bilateral cooperation in the IT and electronics industries and promote the active use of Indian IT human resources by Japanese companies and concluded a memorandum concerning the “New development of Japan-India Information Technology Cooperation.”


Minister Miyazawa and H.E. Ms. Sitharaman, Minister of State for Commerce and Industry

Minister Miyazawa and H.E. Mr. Prasad, Minister of Communications and Information Technology

(3) Minister Miyazawa and H.E. Mr. Goyal, Minister of State for Power, Coal, New and Renewable Energy

At the bilateral meeting with H.E. Mr. Piyush Goyal, Minister of State for Power, Coal, New and Renewable Energy, the two Ministers agreed that the Japan-India Energy Dialogue, for which Minister Miyazawa and his Indian counterpart Goyal are to serve as co-chairs, would be held in Japan this year, in order to deepen the cooperative relationship between Japan and India in the field of energy. In addition, they agreed that, as for coal-fired thermal power, promotion of further efficiency is most important in light of measures against global warming, and that Japanese technology could contribute to that in India.

(4) Minister Miyazawa and H.E. Mr. Pradhan, Minister of State for Petroleum and Natural Gas

At the bilateral meeting with H.E. Mr. Dharmendra Pradhan, Minister of State for Petroleum and Natural Gas, the two Ministers agreed to promote cooperation in areas such as the joint procurement of LNG and research on methane hydrate in the field of petroleum and natural gas, and the importance of requiring more flexible destination clauses in contracts concerning the procurement of LNG.


Minister Miyazawa and H.E. Mr. Goyal, Minister of State for Power, Coal, New and Renewable Energy

Minister Miyazawa and H.E. Mr. Pradhan, Minister of State for Petroleum and Natural Gas

3. Meeting with Mr. Nara Chandrababu Naidu, Chief Minister of the State Government of Andhra Pradesh (AP)

Based on the memorandum concluded between the state and METI in November 2014, the two Ministers confirmed that they would promote projects in the fields of electricity infrastructure, industrial investment, and urban development. In addition, Minister Miyazawa hand-delivered a Japanese proposal concerning the project for the development of a new AP state capital to Chief Minister Naidu. Meanwhile, Chief Minister Naidu expressed great expectation with regard to the participation of the Japanese government and Japanese companies in industrial development and the development of a new AP state capital.


Minister Miyazawa and Mr. Naidu, Chief Minister of the State Government of Andhra Pradesh

Minister Miyazawa hand-delivered a Japanese proposal to Chief Minister Naidu

4. The India-Japan Public-Private Investment & Trade Promotion Policy Dialogue

Minister Miyazawa, 25 Japanese enterprises that accompanied the Minister, H.E. Ms. Nirmala Sitharaman, Minister of State for Commerce and Industry, relevant ministries of India, state governments, and Indian enterprises were brought together to exchange views on a wide range of themes including the promotion of investment and trade, and representatives of the Japanese enterprises that accompanied the Minister made positive comments on the expectations for the markets in India and the importance of improvements in the business environment. Also, it was agreed that this Dialogue would become an annual event in the future.



5. Signing of a Joint Statement

The two Ministers singed the Action Agenda for India-Japan Investment and Trade Promotion and Indo-Pacific Economic Integration. The Action Agenda included mutual approval of the following points:

1) The identification of 11 candidate sites for Japan Industrial Townships and initiation of the Japan Industrial Township Advance Soft Skills Development Project, 2) investment promotion and acceleration of development of infrastructure, 3) new development in the cooperation between the IT & electronics industries of both countries, 4) strengthening of cooperation with strategic states in India, and 5) promotion of Indo-Pacific Economic Integration were approved by both sides in the Action Agenda.


Minister Miyazawa and H.E. Ms. Sitharaman, Minister of State for Commerce and Industry at a signing ceremony of the Action Agenda for India-Japan Investment and Trade Promotion and Indo-Pacific Economic Integration

6. Speech at the Indian Institute of Technology Delhi (IIT Delhi)

At IIT Delhi, which produces world-class IT engineers, Minister Miyazawa discussed the importance of developing human resources from among the younger generations of people in both countries and the interaction between human resources with Director Prof. R. K. Shevgaonkar in order to promote the proactive use of high-level Indian IT human resources by Japanese companies. Minister Miyazawa also explained the attractiveness of Japan and the globalized situation of Japanese companies and conducted high-level recruitment of IT human resources by promoting employment at Japanese companies, at a presentation for graduate students at IIT Delhi.

7. India-Japan Energy Forum

At the India-Japan Energy Forum, Minister Miyazawa welcomed the fact that India was planning to aggressively invest in energy infrastructure under the initiative called Modinomics, and also expressed that it was important for both nations, which are high energy consuming nations, to promote clean coal technology, electric power system stabilization technology, and energy-saving technology through public-private partnerships.

8. India-Japan IT-BPM Business Forum

At the IT-BPM Business Forum, Minister Miyazawa stressed that decisions made by companies’ top management were the key to practical use of Indian IT by Japanese companies.

Appendices

Release date

May 1, 2015

Division in Charge

Southwest Asia Office, Asia and Pacific Division, Trade Policy Bureau

Related Information

Regional Affairs / India

Ministry of Economy, Trade and Industry
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
Copyright Ministry of Economy, Trade and Industry. All Rights Reserved.