On Wednesday, India’s finance minister, Nirmala Sitharaman, welcomed the Japan Bank for International Cooperation (JBIC) for its operational commitment with the National Investment and Infrastructure Fund (NIIF), the EXIM Bank of India, and other financial institutions, citing the nation’s significant interest.
The two men reviewed JBIC’s recent initiatives in India with JBIC Governor Hayashi Nobumitsu in New Delhi and Japan’s ambition to spend five trillion yen in venture capital over five years.
In a statement posted on X, the finance ministry noted that the JBIC has ranked India as one of the most attractive #investment destinations in recent years’ survey of Japanese manufacturing companies and encouraged JBIC to engage with Indian financial institutions like Exim Bank @IndiaEximBank, NIIF, and lending banks to leverage the strength and complementarities of both countries.
The JBIC identified India as a top investment target for Japanese manufacturing businesses in a recent poll. Government pushed JBIC to collaborate with Indian financial institutions like Exim Bank @India.To use both nations’ strengths and complementarities, EximBank, NIIF, and lending banks.
Sitharaman mentioned PMGatiShakti and other blue economy empowerment efforts. She asked JBIC to solicit investment for India in marine food management, logistics, transportation, artificial intelligence, hydrogen-based energy, and semi-conductors.
According to the ministry, “JBIC Governor appreciated the initiatives of Government of India towards facilitating #investment through various instruments like PLI schemes and the National Infrastructure Pipeline #NIP; in addition to GST reforms.”
JBIC is also interested in developing more productive relationships between the two countries, according to Nobumitsu.
Conclusion:-
India’s finance minister, Nirmala Sitharaman, welcomed the Japan Bank for International Cooperation (JBIC) for its operational commitment with the National Investment and Infrastructure Fund (NIIF), EXIM Bank of India, and other financial institutions. They reviewed how JBIC’s recent initiatives fit into Japan’s five-year venture capital investment of five trillion yen. JBIC should partner with Indian financial institutions like Exim Bank @IndiaEximBank, NIIF, and lending banks to capitalize on their strengths and complementarities, Sitharaman said. She also urged JBIC to attract investment in marine food items, logistics and transportation development, artificial intelligence, hydrogen-based energy, and semi-conductors. The JBIC Governor appreciated India’s initiatives in facilitating investment through instruments like PLI schemes and the National Infrastructure Pipeline (NIP) and GST reforms.
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