India is not in the same economic league with Japan. Japan is a very rich country while India is still a poor country. However, because of the continuous high economic growth, the size of Indian economy is becoming near to that Japanese economy. The rich countries are now coming in India to invest and take advantage of the cheap Indian labor force. Although Japan is in Asia, Japanese companies are yet to come in India in large number. At the same time, bilateral trade between India and Japan is not expanding that much.
Japanese leaders are now eager to extend economic cooperations with India and Japan is going to give India `pecial economic partner` very soon. Zee News reported:
“Japan will extend `special economic partner` status to India during Prime Minister Manmohan Singh`s visit to that country next month, its ambassador said today, a move that will help in mobilising investment from Asia`s largest economy in a big way.
Addressing a gathering at the Gujarat Chamber of Commerce and Industry (GCCI) here, Japanese envoy to India Yasukuni Enoki said Tokyo had not extended such a status even to its neighbours like China and South Korea.
"We rank Association of South East Asian Nations (ASEAN) as our top business partner in Asia. After that we are extending the special economic partnership to India.”
I am delighted to be in your midst today for the inaugural session of the India-Japan Economic Partnership Meet. The ties between India and Japan in recent years have been marked by political understanding and growing Interaction at the highest level. The visit of the Prime Minister of Japan to India last year was a milestone in this direction. During my visit to Tokyo in June 2006, I had an opportunity to review the progress of India-Japan Economic and Trade Relations and signed a Joint Statement with Minister Nikai delineating further concrete areas of cooperation.
Posted by: Desi Cyber | November 27, 2006 9:44 AM | Permalink to Comment