Basking in the success of Delhi Metro built with Tokyos assistance, India has now reached an understanding with Japan on developing a Delhi-Mumbai industrial corridor that will symbolise the new vibrancy in economic ties between Asias primary economies.
India and Japan also agreed Wednesday that the first meeting of the negotiating group on signing an economic partnership agreement (EPA) should be held very soon. Besides trade in goods and services, the EPA would include investment promotion and intellectual property rights.
The proposed industrial corridor will be developed along the Delhi-Mumbai multi-modal freight route and will be equipped with an array of infrastructure facilities such as power facilities, rail connectivity to ports en route and development of ports on the western coast of India.
An understanding on the industrial corridor was reached after Indian Commerce Minister Kamal Nath held wide-ranging talks with Japanese Minister of Economy, Trade and Industry Akira Amari.
Several industrial estates and clusters with top-of-the-line infrastructure would be developed along this corridor to attract more foreign investments, including from Japan.
A task force under Japans vice-minister in the ministry of economy, trade and industry and the secretary of Indias department of industrial policy and promotion will flesh out this ambitious project in greater details.
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