Ficci Says Export-Based FDI To Increase Ties With Japan

New Delhi: India should take on an export-oriented foreign direct investment (FDI) strategy that channelises large volumes of FDI into the country for production and export of final products to the Japanese market. This will increase trade between the two countries, the Federation of Indian Chamber of Commerce and Industry (Ficci) said in a paper on India-Japan economic relations. The new economic engagement model that the industry chamber has recommended will increase bilateral trade from a projected $7 billion in 2007-08 to $14 billion in 2012- 13. In order to put the process of economic growth in the region on a higher trajectory, Ficci has recommended people-to-people contact between India and Japan. The chamber has recommended establishing a training cell that can act as an aggregator for Indian SMEs wishing to benefit from Japanese technical and management expertise for performance enhancement.