India, Japan set to achieve historic economic partnership

Union Commerce Minister Kamal Nath has said that India and Japan are closing in on a historic economic partnership agreement to boost bilateral trade.

New Delhi, Aug 22 : Union Commerce Minister Kamal Nath has said that India and Japan are closing in on a historic economic partnership agreement to boost bilateral trade.

Nath's comments came at a business dinner hosted for around 200 business executives, who are accompanying Prime Minister Shinzo Abe on a high-profile visit to India.

Fujio Mitraj, leader of Japanese delegation said a number of Japanese companies eyed India as a strong investment destination.

"I would like to emphasize that all the companies, participating in mission have a strong interest in the economic relations with India," he said.

To help boost ties, the two sides will discuss a plan to build a 90 billion dollars industrial corridor with state-of-the-art infrastructure linking Delhi and Mumbai.

The aim is to boost Indian manufacturing by helping make use of its cheap workforce while solving one of the bugbears of India's economy -- its poor infrastructure and transportation. apan is India's tenth largest trade partner.

ANI