- Thursday, February 27, 2025
The finance minister and JBIC governor Hayashi Nobumitsu exchanged views on the latter’s recent activities in India contributing towards Japan’s investment target of five trillion yen over the next five years.
By: Shubham Ghosh
INDIAN finance minister Nirmala Sitharaman on Wednesday (16) invited Japan Bank for International Cooperation (JBIC) for an active engagement with National Investment and Infrastructure Fund (NIIF), EXIM Bank of India and other financial institutions citing huge opportunity for investment in the country.
During a meeting with JBIC governor Hayashi Nobumitsu in New Delhi, both exchanged views on the Japanese body’s recent activities in India contributing towards Japan’s investment target of five trillion yen (£26.8 billion) over the next five years.
“The Union Finance Minister observed that India has been ranked by the JBIC as one of the most attractive #investment destinations in recent years’ survey of Japanese manufacturing companies and encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries,” the finance ministry said in a statement posted on X.
Union Finance Minister Smt. @nsitharaman met Mr. Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation (JBIC), in New Delhi, today, to exchange views on JBIC’s recent activities in India contributing towards Japan’s investment target of five trillion yen over next… pic.twitter.com/i78BhgExbs
— Ministry of Finance (@FinMinIndia) August 16, 2023
Japan has agreed to provide five trillion yen in public-private investment and loans to India over the next five years.
The goal was set by both countries during Prime Minister Kishida Fumio’s visit to India in March 2022.
Sitharaman informed the JBIC governor about various initiatives of the government including PM GatiShakti and other enabling policies for development of the blue economy.
She also urged JBIC to bring in investment to India for processing of marine food products, logistics and transportation development and also in emerging sectors viz. artificial intelligence, Hydrogen-based energy and semi-conductors.
The JBIC governor appreciated the initiatives of the government of India towards facilitating investment through various instruments like PLI schemes and National Infrastructure Pipeline (NIP); besides Goods and Services Tax reforms.
Nobumitsu said the JBIC is also looking forward to explore more opportunities for mutually beneficial engagements between the two countries.
(With PTI inputs)
