Japan too requires India, says Abe

Japan Prime Minister Shinzo Abe on Saturday stressed the need for cooperation with India and said that together the two countries “can do wonders”.

“It is not that only India requires Japan, Japan too requires India,” he said. Japan is currently assisting India in modernising its creaking infrastructure sector through its Rs 29,000 crore aid to the ambitious Delhi-Mumbai Industrial Corridor (DMIC) Project.

“A strong India and a strong Japan can come together and I think we can do wonders. I am confident that there is tremendous potential for cooperation between the two nations,” Abe told a gathering of CII, FIcci and Assocham.

Abe, who is the chief guest for the Republic Day Parade on Sunday, said Japan was ready to provide technology and other supports to India in order to revitalise its industry and economy. Trade between India and Japan is at $18.51 billion and Tokyo accounts for over 2.30 per cent share in India’s global trade. India exports petroleum products, oil meals, marine products, gems and jewellery and iron ore to Japan, while majorly imports are machinery, iron and steel, electronic goods, transport equipment and project goods.

“Japan requires human resources that you have and I request you to visit Japan and see the technologies which Japan can offer you,” Abe said as he emphasised on the potential in both countries to enhance economic cooperation.

Apart from medicines, including those for lifestyle diseases, Japan also has agriculture-related technologies in which there is a potential for collaboration, he said. Tokyo also announced a 200 billion yen ($1.95 bn) aid in new loans for extension of the Delhi Metro and two other projects.

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