December 28, 2009 7:19 PM

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Japanese PM holds close-door talks with Indian industrialists to boost bilateral trade

Japanese Prime Minister Yukio Hatoyama today pitched for intensifying bilateral trade with India, particularly in infrastructure and technology, during his meetings with the doyens of Indian business and industry. In 2008-09, the Indo-Japan bilateral trade stood at around USD 12 billion and is expected to grow further by next year. Noting that Japanese investment in India is still much lower than that in China, he said there is vast scope for infusing larger resources into sectors of potential growth, primarily infrastructure. The premier held separate meetings with Reliance Industries Chairman Mukesh Ambani, Tata Group Chairman Ratan Tata, and also met a CII delegation and Gujarat Chief Minister Narendra Modi. The closed-door meeting between Hatoyama and Tata came in the backdrop of healthy market response to the recently- launched joint venture between Tata Teleservices and Japanese telecom giant NTT DOCOMO. The meeting with Mukesh Ambani was also crucial as he represents the Japan-India Business Leaders' Forum in India. Gujarat chief minister Narendra Modi discussed various issues with Hatoyama including the Delhi-Mumbai Industrial Corridor project, a large area of which passes through Gujarat. Sources said, the meeting will open up new vistas of partnership in ship-building, solar energy and renewable energy initiatives.

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