India-Japan Alliance Must Concentrate More On Trade, Tech

New Delhi: India-Japan partnership should concentrate more on trade, investment and technology with prominence to economic interest, said Mr Dinesh Sharma, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry. At a meeting on India-Japan allianced organised by the Confederation of Indian Industry on Aug 20, Mr Sharma said that economic interest should overcome the political interest to build up relationship and formulate trade policy with Japan. The India-Japan relationship has so far been led by the Japanese initiative in giving development assistance. Japan has shown interest in portfolio investment but foreign direct investment (FDI) and trade has been substantially below expectations. Japanese manufacturing skill can create a platform for India to meet the global expectations. Japan''s FDI to India will totaled to around $5.5 billion over five years from 2006 to 2010 only by totalling 27 FDI projects.