The recent visit of the Japanese Prime Minister Shinzo Abe has opened avenues for further strengthening of Indo-Japan ties. Both nations today have a bigger role to play in the global arena. Under such circumstances there is an urgent need for both countries to work together for a common goal – taking Asia to the heights of an economic revolution.
Japan today can contribute to India's deficient infrastructure. There is a need for a stronger and closer partnership in joint ventures and developing a market for sophisticated products.
India too needs to earn a reputation that it has matured from an aid receiver to that of an investment partner. Apart from that, India needs to look at certain areas that include a slow potbellied bureaucracy, trade unionism and poor infrastructure, that still remain deterrents to the nation’s progress story.
Even though Japan has its reservations about the Indo-US nuclear deal, the two countries can cooperate in research and development of alternative energies. Moreover, bilateral trade needs to pick up from its $ 7 billion per annum to about $ 20 billion. Although a free trade agreement seems a Utopian now, nevertheless, it can be inked if both nations play their parts.
The need of the hour is to create an atmosphere where both nations can work together for a common objective of a economically stronger Asia.
About the author:
Bikky Khosla is CEO of Tradeindia.com & also an Editor of Tradeindia weekly exim newsletter's. For more details visit www.tradeindia.com
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