Japan proposes new JWG on N-talks; Cos set to invest 3 bn USD

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New Delhi: Japan on Wednesday proposed a new Joint Working Group to discuss civil nuclear cooperation as its Minister of Economy, Trade and Industry Yoichi Miyazawa came here along with a delegation of top business leaders who are set to invest USD 3 billion in India in immediate future.

Miyazawa made the offer when he met Prime Minister Narendra Modi who suggested that the two nations should work out a special long-term arrangement for financing infrastructure and industry in India, consistent with the strategic partnership and this country’s enormous economic opportunities.

Modi told him that the government would continue to take steps to further facilitate and accelerate Japanese investments in India.

The Japanese minister conveyed to Modi that he had come with a delegation of top business leaders, who have firm plans to invest USD 3 billion in India in the immediate future, a PMO statement said tonight.

This, he said, was in pursuance with the shared commitment of Prime Minister Shinzo Abe and Modi to enhance Japanese investments in India, especially in support of Prime Minister’s “Make in India” mission.

During the discussions, Miyazawa also proposed a new Joint Working Group between Ministry of External Affairs and Ministry of Economy, Trade and Industry (METI) of Japan on civil nuclear energy cooperation, the statement said.

The two countries have been negotiating a civil nuclear deal for a number of years but there has been no breakthrough.

Miyazawa expressed happiness over the working of the fast- track mechanism for India-Japan Collaboration – Japan Plus and underlined his government’s support for further strengthening it, the statement said. .

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