New Delhi, Dec 28: Commerce and Industry Minister Anand Sharma today told the visiting Japanese Prime Minister Yoshihiko Noda here that his country should help in setting up agro-processing zones in India.
“We are setting up about 46 agro-processing zones (in India). This is also one area where Japanese knowledge and experience could be of great help to India,” Sharma said.
On his part, Noda said that about 420 Japanese companies present in India have created over 1.50 lakh jobs in the country.
At a luncheon meeting with CII, FICCI and Assocham here, the Japanese prime minister said India and Japan are forging ahead with collaboration on political, security and economic issues, besides regional cooperation, Noda said.
The Comprehensive Free Trade Agreement between the two countries that was operationalised in August will further enhance the India-Japan economic relationship, he said.
Anand Sharma said India and Japan should work together as the world is facing economic uncertainty.
He said there are huge opportunities available in India for Japanese businessmen in sectors like infrastructure, including ports and airports, and agriculture.
“We are setting up about 46 agro-processing zones (in India).
This is also one area where Japanese knowledge and experience could be of great help to India,” Sharma said.
He said “we are very much on course” to achieve the bilateral trade target of USD 25 billion by 2014.
Sharma further said the Japanese government has committed USD 4.5 billion for the Delhi-Mumbai Industrial Corridor (DMIC) project.
The project is aimed at creating world-class industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor, which is under implementation.
India-Japan bilateral trade saw a robust increase of 24 per cent to USD 13.2 billion during January-September period on the back of the mutual free trade agreement.
Under the FTA, officially known as the Comprehensive Economic Partnership Agreement (CEPA), the two countries have slashed duties on large number of items of trade.
As a significant concession under the pact, Japan has given access to Indian pharmaceutical products.
Noda arrived in New Delhi yesterday for a three-day visit.