CII president R Seshasayee calls for Indo-Japan economic partnership

New Delhi, June 19 (UNI) Aiming at cementing India's economic and trade ties with Japan, CII President R Seshasayee proposed an eight-fold path towards a new plan of India-Japan economic partnership, at the Chamber's visit to Japan.

Mr Seshasayee called for a comprehensive economic partnership agreement between the two countries that would significantly step up economic cooperation in goods, services and investment.

He said that Indo-Japan cooperation in manufacturing and infrastructure should have a strong element of innovation that could further derive from joint efforts in strengthening IPR and developing patents.

India's highly talented knowledge workers can help fill upcoming gaps in Japan's demographic profile while economic cooperation must include sustainable development, he said.

Joint efforts can be initiated towards global environment concerns such as clean air, renewable energy and carbon emission norms.

Closer people-to-people links through tourism, student exchange and cultural activities will help build greater understanding between the two nations, the CII President said.

The Confederation of Indian (CII) President R Seshasayee led a two-day high profile CEO's Mission to Japan from June 14-15.

It witnessed an interaction with Mr Shinzo Abe, Chief Cabinet Secretary, Government of Japan which covered three key issues such as Environment, Science and Technology (Innovation) and Energy, where Japanese and Indian industry have large number of opportunities to work together involving industry associations and governments of both countries.

Mr Abe emphasised that for Japan 'energy' was one of the key focus area for India.

He confirmed that former Japan Prime Minister Mr Mori would represent Japan at the Opening Ceremony of CII flagship event, International Engineering and Technology Fair (IETF 2007), to be held in February 2007 where Japan will be the Partner Country for the second time.

He added that number of flights between Japan and India would also be enhanced under the open sky policy. ANA, the Japanese Airlines has already been approached to initiate action in this respect.

CII also had an interaction with its two new SMEs partners in Japan namely Japan Finance Cooperation for Small and Medium Industry (JASME) and Organisation for Small and Medium Enterprises for Regional Innovation (SMRJ). The Japanese Equity Capital Markets, trends in M&A in Japan and cross-border deals were also introduced to the members of the CII delegation.

JASME would open its office here by the year-end.

Besides, an India-Japan Business Summit organised by the CII, the Japan External Trade Organisation (JETRO) and the Indian Brand Equity Foundation (IBEF) focused on the key opportunities in India in manufacturing, infrastructure, pharma and chemicals, retail and marketing aspects in India and Finance.

The Summit was supported by the Ministry of Economy, Trade and Industry (METI), Japan and India's Ministry of Commerce and Industry.

METI Minister Toshihiro Nikai and Union Minister for Commerce and Industry Kamal Nath addressed the Summit.

Other key speakers included DIPP Secretary Ajay Due, JETRO Chairman and CEO Osamu Watanabe and Suzuki Motor Corporation Chairman and CEO O Suzuki.

The CII CEOs Mission's visit coincided with the East Asia Summit organised by WEF in Tokyo.

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