New Delhi: Prime Minister Manmohan Singh on Friday invited Japanese companies to invest in India with an assurance that investors concern will be addressed.
He also urged the Japanese companies to become India’s important business partner by participating in public-private partnership and outlined various measures undertaken by the government to ease investments.
According to Government estimation, India needs investment of at least $320 billion in the next five years in infrastructure alone and the total investment required would be closer to $500 billion.
Addressing Japanese business leaders in Tokyo, he said India was witnessing high economic growth in which Japan should participate as the economic relations between the two countries.
Manmohan Singh also stressed on the need to increase bilateral trade and added that two countries plan to begin talks on a Comprehensive Economic Partnership Agreement.
India's trade with China and Korea is booming and grew last year at around 40 per cent with both countries.
"An economically-resurgent India offers a variety of investment opportunities, both in traditional and new sectors, in labour-intensive and knowledge-based industries," said Singh.
"This requires public and private, domestic and foreign participation in the sector. We happily welcome foreign investment and seek to promote public-private partnership,” he added.
With agency inputs
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