As the recent visit of Japanese Prime Minister Shinzo Abe to India comes to an end, the industry body Federation of Indian Chambers of Commerce and Industry (FICCI) has lauded the Indian Government for inviting Japanese investments in the strategically important North-East region of the country.
The Chamber has stated that Japan has been a reliable and trusted partner, especially in the infrastructure development in India with Delhi Metro being the showpiece project of this partnership. The Chamber also mentioned that world class infrastructure is needed in the North-East region to truly realize its potential as the gateway to the South-East Asian markets.
FICCI in fact, has been actively pursuing this agenda. Last month, the chamber organized a roundtable on "Opportunity North East: Emerging International Connectivity" at New Delhi which was inaugurated by Salman Khurshid, Minister for External Affairs. A discussion paper on the subject had identified opportunities where to improve India's connectivity with the South East Asian countries.
The pace of infrastructure development including roads, railways, power etc in the North-East region has been very slow and the Japanese funds and expertise would reenergize the development of infrastructure in the region. Citing the specific projects like trilateral highway connecting India, Myanmar and Thailand, the Chamber said that involvement of Japanese companies would help timely completion of such game changing projects.
Similarly there is huge potential for the development of Hydro-power projects with the Japanese investments. It is estimated that about one third of India's hydro-power potential lies in North-East. FICCI has also identified projects in agriculture, urban planning where Japanese expertise could be tapped for sustainable development.
FICCI is coming up with a comprehensive action plan post discussions with the business delegation accompanying the Japanese Prime Minister.