Indian Finance Minister P. Chidambaram will visit Tokyo from April 1-3, to attract Japanese investment in India.
During this three-day visit, Chidambaram is expected to meet and hold discussions with his Japanese counterpart, Tarō Asō, and is likely to discuss the proposed investment-friendly measures in India’s annual budget for 2013-14.
This is the second of the series of visits the Minister will make in March and April to attract Foreign Direct Investments (FDI); it began with him attending a road show in the United Arab Emirates on March 27.
The frequency of bilateral engagements between India and Japan is increasing. Indian External Affairs Minister Salman Khurshid met his Japanese counterpart Fumio Kishida on March 27, and Indian Prime Minister Manmohan Singh is slated to visit the country in May.
India and Japan enjoy warm relations, and bilateral trade between the two stood at $18.43 billion in 2011-12. Japan is the fourth largest investor in India, and their FDI into the country stood at $2.9 billion in 2011-12. Recently, during the Indian External Affairs Minister’s visit to the country, Japan pledged $2.32 billion to help India’s infrastructure development initiatives.