New Delhi, 11 June-2014, IANS: India's trade deficit declined to $11.23 billion in May from…
NEW DELHI(PTI): With a renewed focus on bilateral ties and economic engagement between the two countries, Japanese investments into India are expected to rise, industry body PHDCCI on Wednesday said.
“Now that the political relationship as well as economic commitments of the top leadership of both India and Japan have matured afresh in recent times, it is hoped that FDIs from Japan would received a further fillip in India,” the chamber said in a statement.
It also said that huge trade opportunities exists in both the countries as they have not expanded to the level of their potential.
The chamber issued the statement after hosting a business delegation from Japan in which emphasis was laid on deepening and widening of trade and economic relations especially in its MSME segment.
Former President PHD Chamber Alok B Shriram said that developing business relations with Japan can prove to be of immense use provided the Indian firms have detailed their business proposals with precision.
The bilateral trade between the countries fell to $15.51 billion in 2014-15 from $16.29 billion in the previous fiscal. The trade balance is in the favour of Japan.
India has received $19.16 billion FDI from Japan between April 2000 and September 2015. It accounts for 7% of the country’s total foreign direct investment during that period.