Japanese firms seek easing of restrictions on funding

The recommendations have been made in a joint report of ‘India-Japan Business Leaders Forum’ 2016 which was presented to Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe here on Friday. 

The Japanese Inc has also suggested reforms in the tendering processes in the infrastructure sector in India by introducing and expanding use of a comprehensive evaluation system, allowing one company bids and some other measures. 

“The business communities of India and Japan will continue to cooperate in strategic areas such as the promotion of economic partnerships, improvement of the business environment, and infrastructure development, and on issues of a global scale. “In so doing, they will cooperate with the governments of both nations from a business standpoint to ensure that the Indian and Japanese economies will grow together and continue to act as growth engines in the global economy,” the report said. 

The report added that the business leaders of the two countries “strongly urge the Indian government to step up its approaches on these issues and the Japanese government to cooperate in their improvement.”