PM asks Japanese businessmen to invest in India in a big way

Tokyo, Dec 9: Assuring Japanese captains of industry and business that his government is creating a “congenial atmosphere” for foreign investment, Prime Minister Atal Bihari Vajpayee on Sunday invited them to India to invest in a big way.

“Together we can change the face of Asia,” Mr Vajpayee told a group of prominent Japanese businessmen who made several suggestions for an enhanced economic cooperation between the two countries.

His government is committed to economic liberalisation and economic reforms process has been speeded up to remove all hurdles in the way of foreign investment, the Prime Minister categorically told them.

India would like to go for joint ventures in various sectors particularly in information technology, Mr Vajpayee said adding that if they succeeded in the economic field, there could be tie-up in other areas.
Disinvestment minister Arun shourie later told reporters that the Japanese businessmen made a number of suggestions and one of them was promotion of tourism.

Noted Japanese business magnate Yoshiri Ishipawa stressed that promotion of tourism could lead to a better economic cooperation between them and pointed out that despite political, cultural and historical conflicts with Beijing, Japan was today investing in China in a big way.

“This was because of we are getting more tourists from China and our tourists are going to Japan”, Mr Ishipawa said adding that on an average of three to four million Japanese tourists visited China early this year. Mr Vajpapee attended a reception in the evening hosted by Indian ambassador in Japan, Aftab Seth, where he spoke about the need for greater economic cooperation between the two countries.

— PTI