INDIAN Commerce Minister, Mr Anand Sharma, today met the Japanese Prime Minister, Mr Naoto Kan, and expressed satisfication on the conclusion of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Japan, which is slated to be signed tomorrow.

Prime Minister Kan underscored the significance of Indo Japanese technology collaboration for research and innovation. He called for a partnership in development of India's infrastructure, specifically referring to Delhi Mumbai Industrial Corridor project. While responding, Mr Sharma highlighted the importance attached by India to of the Delhi Mumbai Industrial Corridor Project which has now decisively moved from the stage of master planning to project implementation. This project will see investments of over $100 billion and is being seen as a flagship initiative of Indo-Japan partnership. Minister Sharma proposed the establishment of a revolving fund of $ 9 billion with matching contribution from Indian and Japanese side to kickstart the implementation process. Japanese Prime Minister agreed to enhance the financial contribution of Japan and was positively receptive to the suggestion. Mr Sharma urged for greater Japanese investments in areas of core infrastructure and capital goods equipment including power generation where Japanese companies have a technological edge.

Tomorrow, Mr Sharma will be signing the CEPA along with the Japanese Foreign Minister Maehara. Later in the day, he will be holding substantive bilateral meetings with the METI minister to review the progress of DMICDC project. He will be interacting with top Japanese CEOs to seek Japanese investments in India in areas of priority as identified at the Summit level interaction between the Prime Ministers.