PM committed to achieving 10 per cent growth rate by 2012

Tokyo, Dec 14 (UNI) Declaring that the UPA government was committed to achieving a growth rate of 10 per cent by the end of 2012, Prime Minister Manmohan Singh has sought liberal Japanese investments in India, particularly in infrastructure, agriculture and education.

Dr Singh, who is on a four-day visit to Tokyo, told Japanese daily Nikkei Shimbun in an interview that he was keen to conclude a comprehensive economic cooperation agreement (CEPA) with Japan at the earliest. Negotiations on CEPA will start tomorrow when he meets his Japanese counterpart Shinzo Abe.

Emphasising that CEPA would accelerate economic cooperation between the two countries for their mutual benefit, Dr Singh said the accord should include promotion of mutual investments besides dergulation of trade and services.

Regarding infrastructure and regulations which invoke dissatisfaction among Japanese enterprises, the Prime Minister said his government had already taken several measures to promote foreign investment.

He indicated that the government could decrease the upper limit on investment by foreign enterprises to improve the business climate.

Pointing out that India required investment worth more than 500 billion dollars (320 dollars in infrastructure) in the coming decade, he said the infrastructure sector offered great opportunities for the foreign investors.

UNI SA AT RN1457