'India-Japan co-operation to help link south India to ASEAN'

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    'India-Japan co-operation to help link south India to ASEAN'

    Stressing the importance of enhancing connectivity in India's northeastern states, Japanese Ambassador to India Takeshi Yagi Saturday said the "bigger picture" is to eventually link south India with ASEAN countries.

    "This is a part of increasing connectivity between India and ASEAN. We already have concrete projects. Another aspect is the Chennai-Bangalore industrial corridor - the bigger picture we have in mind is to enhance connectivity between southern part of India and ASEAN," Yagi said at a lecture at the Observer Research Foundation here.

    During Prime Minister Narendra Modi's Japan visit earlier this year, Modi and his Japanese counterpart Shinzo Abe placed strong emphasis on co-operation in enhancing connectivity and development in northeast India.

    The focus is on linking the region to other economic corridors in India and to Southeast Asia, which would catalyse economic development and increase prosperity in the region.

    Yagi said the next step is to aaccelerate implementation of these projects and get things done.

    "While the immediate focus is on strengthening defense ties, the Japanese expect India to be more forthcoming in terms of economic co-operation," he said.

    He said Modi's visit underscored the importance of "exploiting the full potential" of economic ties between the two countries.

    The two prime ministers announced the Japan-India INVESTMENT Promotion Partnership under which they decided to set a target of doubling Japan's foreign direct INVESTMENT and the number of Japanese companies in India within five years as an objective to be jointly achieved.

    They also decided to work closely towards further expanding bilateral TRADE relationship to the next stage.

    Prime Minister Abe expressed his intention to realize 3.5 trillion Yen of public and private investment and financing from Japan, including Overseas Development Assistance (ODA), to India in five years, to finance appropriate public and private projects of mutual interest.

    "We hope India will be more activea if India is really serious about Indo-Pacific integration, it must get over its initial difficulties and make headway," Yagi said.

    'India-Japan co-operation to help link south India to ASEAN' | Business Standard News
     
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