tsche Bank thinks this will happen by 2020.A recent report of the A.T. Kearney's Global Index of FDI Acceptability for 2004 ranks India third, after China and the US.

According to the JETRO survey 76 % of the Japanese firms are keen on investing additionally in India. With 50 % of them opting for diversification and expansion and the rest 26% for high value add. The successes achieved by Maruti-Suzuki, Toyota-Kirloskar, Sona Koyo, Mitsubishi Chemicals, Toshiba, Sony, Matsushita and others should be a major encou

The recent visit of the Indian Prime Minister Dr Man Mohan Singh to Japan has been a big success in terms of India’s economic and strategic ties. The Japanese Prime Minister Shinzo Abe has proposed for a new four-way framework for strategic dialogue between Japan, India, Australia and the United States. To which in a press conference Dr Singh replied in a very positive way by saying “Our bilateral relations are rooted in similar perceptions about the evolving environment in our region. India and Japan are the largest and the most developed democracies in Asia. I wish to use my forthcoming visit to Japan to gain a better understanding about Prime Minister Abe's idea of closer cooperation among major democracies in the region.”

The idea in the present changed international scenario doesn’t seem to be absurd looking into the huge economic changes taking place in India and Japan .All ready detailed talks are going on between the two countries for the formation of a India –Japan economic forum within another five years. Which both the countries have agreed to establish. Dr Singh was quite affirmative on this when he said, “We're very keen that we should accelerate the tempo, and once our political leadership gives the direction, we can move pretty fast. We do need a comprehensive economic partnership agreement between India and Japan. I find there are important complementarities, particularly in the new field of knowledge economy. India has developed considerable expertise in information technology, in pharmaceuticals, and in biotechnology. And I do believe that there are new complementarities between Indian capabilities and Japanese capabilities and interests”.

Japan and its corporate houses recognizes that the India of today which they deal with is a very different country then what it was way back in the 1980’s. Several international agencies have predicted that India would soon emerge as a big economic powerhouse and Japan should not neglect its new opportunities in India. Goldman Sachs predicts India becoming the third largest economy by 2030. Deutsche Bank thinks this will happen by 2020.A recent report of the A.T. Kearney's Global Index of FDI Acceptability for 2004 ranks India third, after China and the US.

According to the JETRO survey 76 % of the Japanese firms are keen on investing additionally in India. With 50 % of them opting for diversification and expansion and the rest 26% for high value add. The successes achieved by Maruti-Suzuki, Toyota-Kirloskar, Sona Koyo, Mitsubishi Chemicals, Toshiba, Sony, Matsushita and others should be a major encour

and the most developed democracies in Asia. I wish to use my forthcoming visit to Japan to gain a better understanding about Prime Minister Abe's idea of closer cooperation among major democracies in the region.”

The idea in the present changed international scenario doesn’t seem to be absurd looking into the huge economic changes taking place in India and Japan .All ready detailed talks are going on between the two countries for the formation of a India –Japan economic forum within another five years. Which both the countries have agreed to establish. Dr Singh was quite affirmative on this when he said, “We're very keen that we should accelerate the tempo, and once our political leadership gives the direction, we can move pretty fast. We do need a comprehensive economic partnership agreement between India and Japan. I find there are important complementarities, particularly in the new field of knowledge economy. India has developed considerable expertise in information technology, in pharmaceuticals, and in biotechnology. And I do believe that there are new complementarities between Indian capabilities and Japanese capabilities and interests”.

Japan and its corporate houses recognizes that the India of today which they deal with is a very different country then what it was way back in the 1980’s. Several international agencies have predicted that India would soon emerge as a big economic powerhouse and Japan should not neglect its new opportunities in India. Goldman Sachs predicts India becoming the third largest economy by 2030. Deutsche Bank thinks this will happen by 2020.A recent report of the A.T. Kearney's Global Index of FDI Acceptability for 2004 ranks India third, after China and the US.

According to the JETRO survey 76 % of the Japanese firms are keen on investing additionally in India. With 50 % of them opting for diversification and expansion and the rest 26% for high value add. The successes achieved by Maruti-Suzuki, Toyota-Kirloskar, Sona Koyo, Mitsubishi Chemicals, Toshiba, Sony, Matsushita and others should be a major encou

the countries have agreed to establish. Dr Singh was quite affirmative on this when he said, “We're very keen that we should accelerate the tempo, and once our political leadership gives the direction, we can move pretty fast. We do need a comprehensive economic partnership agreement between India and Japan. I find there are important complementarities, particularly in the new field of knowledge economy. India has developed considerable expertise in information technology, in pharmaceuticals, and in biotechnology. And I do believe that there are new complementarities between Indian capabilities and Japanese capabilities and interests”.

Japan and its corporate houses recognizes that the India of today which they deal with is a very different country then what it was way back in the 1980’s. Several international agencies have predicted that India would soon emerge as a big economic powerhouse and Japan should not neglect its new opportunities in India. Goldman Sachs predicts India becoming the third largest economy by 2030. Deutsche Bank thinks this will happen by 2020.A recent report of the A.T. Kearney's Global Index of FDI Acceptability for 2004 ranks India third, after China and the US.

According to the JETRO survey 76 % of the Japanese firms are keen on investing additionally in India. With 50 % of them opting for diversification and expansion and the rest 26% for high value add. The successes achieved by Maruti-Suzuki, Toyota-Kirloskar, Sona Koyo, Mitsubishi Chemicals, Toshiba, Sony, Matsushita and others should be a major encou

I do believe that there are new complementarities between Indian capabilities and Japanese capabilities and interests”.

Japan and its corporate houses recognizes that the India of today which they deal with is a very different country then what it was way back in the 1980’s. Several international agencies have predicted that India would soon emerge as a big economic powerhouse and Japan should not neglect its new opportunities in India. Goldman Sachs predicts India becoming the third largest economy by 2030. Deutsche Bank thinks this will happen by 2020.A recent report of the A.T. Kearney's Global Index of FDI Acceptability for 2004 ranks India third, after China and the US.

According to the JETRO survey 76 % of the Japanese firms are keen on investing additionally in India. With 50 % of them opting for diversification and expansion and the rest 26% for high value add. The successes achieved by Maruti-Suzuki, Toyota-Kirloskar, Sona Koyo, Mitsubishi Chemicals, Toshiba, Sony, Matsushita and others should be a major encou

tsche Bank thinks this will happen by 2020.A recent report of the A.T. Kearney's Global Index of FDI Acceptability for 2004 ranks India third, after China and the US.

According to the JETRO survey 76 % of the Japanese firms are keen on investing additionally in India. With 50 % of them opting for diversification and expansion and the rest 26% for high value add. The successes achieved by Maruti-Suzuki, Toyota-Kirloskar, Sona Koyo, Mitsubishi Chemicals, Toshiba, Sony, Matsushita and others should be a major encouragement for others to come to India.

An important sector where India and Japan has huge scope is in the field of service industry. The Japanese population is aging very fast. By 2004, 14 % of the total Japanese population was above 65 years of age. It is expected to rise to 25% by 2015. In the case of India it is exactly the opposite. India has almost 40 % of its population below 18 years of age. By 2015 some 550 million Indians would be under the age of 20. With such a huge young vibrant population having almost a huge percentage of it specialized in Human Resources and Technology the scope of Young Indians in Japanese service and technical industries is very huge and India should explore this to her maximum extent. Japan would soon require a huge percentage of young outside labor force to run her highly technical economy and India could well fit the bill. Some 70 Indian information technology companies exist in Japan with about 4,500 professionals working there.

In the early 1990’s Japan was the second main destination of India's exports only next to the United States with a 6 per cent share of the total in 1996-97.However Japan’s share dropped to 2.7 per cent of India's exports in 2003-04. Almost 50 % of Japan’s trade is with Asia which includes 35 % with China. India accounts for only 1% of Japan’s Asian trade as such there is huge scope for India.

With such huge scope of all fields there is huge scope for better ties between India and Japan in future hopefully Dr Singh’s recent visit to that country is a leap forward. As Dr Singh’s says “I'm very confident that this visit of mine will prove to be a very important milestone in bringing our two countries together.”