India and Japan on Wednesday decided to look at the possibility of setting up a Japanese Electronics Manufacturing Township, JEMT in New Delhi. The township will help India reduce imports of electronic goods and contain trade deficit.Last year, India imported electronic goods worth 32 billion U.S. dollars. The statement was issued after the meeting with Commerce and Industry Minister Anand Sharma and Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi.It said, both the sides also welcomed the progress made in the Chennnai-Bengaluru Industrial Corridor, CBIC project initiated in 2011. Besides, the two sides reviewed the progress of the Delhi-Mumbai Industrial Corridor project.Japan has committed to invest 4.5 billion U.S. dollars in this project. Tokyo is also helping New Delhi in developing CBIC. An official said that a Japanese consultant will be hired to prepare the detailed project report.The statement said both the countries have agreed to deepen engagement to further promote investments and improve business environment in partnership with state governments.Anand Sharma said the Early bird projects and 19 priority projects under the DMIC were also reviewed.