India and Japan on 10 September 2013 agreed to look forward for the development of a Japanese Electronics Manufacturing Township (JEMT) in New Delhi. The township will play a role in reducing the imports of electronic goods to India, which would help in containing the Indian trade deficit. Japan will make an investment of 4.5 billion US dollars in the Project. The Union Cabinet had approved an expenditure of 18500 crore Rupees on development of infrastructure for the project.
The decision for setting up of JEMT was taken in a meet between the Commerce and Industry Minister of India, Anand Sharma and Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi.
Last year, India imported electronic goods worth 32 billion U.S. dollars.
Other important projects of Japan in India
• Chennnai-Bengaluru Industrial Corridor (CBIC) project initiated in 2011
• Delhi-Mumbai Industrial Corridor (DMIC) project is under implementation. The project will cover seven states and cover a total distance of 1483 kilometers. Japan is providing a financial and technical support to the project.
During the same meet, both sides agreed on deepening the engagements between the two nations and enhance investments for creation of a netter business environment in partnership with state governments.
Economic Engagement of Japan in India in recent Past
• The bilateral trade between India and Japan in 2012-13 was 18.51 US dollars
• India has received 14.75 Billion US dollar in form of FDI between April 2000 and June 2013
• Japan has made 7 percent investment in India of India’s total FDI
Bilateral trade between the two was USD 18.51 billion in 2012-13. Besides, India has received USD 14.75 billion FDI from Japan between April 2000 and June 2013. The Japanese investment accounts for 7 per cent of India's total FDI.
Who: India and Japan
When: 10 September 2013