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India, Japan to draft paper on Delhi-Mumbai corridor by August |
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18:28, July 03, 2007 |
Indian Commerce Minister Kamal Nath and Japanese Economy, Trade and Industry minister Akira Amari have directed a task force to finalize a concept paper on Delhi- Mumbai Industrial Corridor (DMIC) Project before Japanese Prime Minister Shinzo Abe's visit to India in August this year, a joint statement issued in New Delhi by the two ministries said Tuesday.
The multi-billion dollar project entails the development of infrastructure along the 1,483-km dedicated freight corridor between New Delhi and Mumbai that includes the building of airports, setting up of several agro-processing parks and special economic zones, creating 4,000 MW of power generation facility and two ports in West Indian states Gujarat and Maharashtra.
The industrial corridor project, which was initiated during Indian Prime Minister Manmohan Singh's Tokyo visit in December 2006, is likely to be finalized during Abe's visit to India in the last week of August.
The two ministers also welcomed the announcement of Tokyo Stock Exchange (TSE) to introduce the Japanese Depository receipt (JDR) scheme here.
India can become the first destination for the scheme, that can become a financial resource for the DMIC project.
Akira Amari and Kamal Nath co-chaired the first meeting of the Japan-India Policy Dialogue (JIPD) between the two ministers.
Akira Amari's visit to India, that began June 30, is to end on Tuesday. Amari was accompanied by a Japanese business delegation headed by Osamu Suzuki, Chairman of Suzuki Motor Corporation.
The statement said that the ministers discussed global and regional economic issues including Doha Development Agenda (DDA), Comprehensive Economic Partnership in East Asia (CEPEA) and Economic Research Institute for ASEAN and East Asia (ERIA).
The ministers decided to cooperate towards the successful conclusion of the DDA by the end of 2007.
The ministers welcomed the pact between the Confederation of Indian Industries (CII) and the Japan External Trade Organization (JETRO) signed on July 2 here, facilitating closer business interaction between enterprises in India and Japan.
Source: Xinhua
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