| India and Japan have taken several steps to boost investment between the two countries. As part of India-Japan Strategic and Global Partnership, the two sides have launched a Special Economic Partnership Initiative (SEPI) which includes the Delhi-Mumbai Industrial Corridor (DMIC) project. India and Japan have also signed the Comprehensive Economic Partnership Agreement (CEPA) in February, 2011. The CEPA is a comprehensive agreement which contains, inter-alia, agreement on investment also. In the Joint Statement issued on the occasion of the visit of the Japanese Prime Minister to India in December, 2011, the two Prime Ministers stressed the importance of infrastructure development in the areas between Chennai and Bengaluru, where an increasing number of Japanese companies including SMEs have made direct investments to establish their manufacturing base or other forms of business presence. During the visit of the Minister of Economy, Trade and Industry (METI) of Japan to India on September 11, 2013, a Joint Statement was signed by the Minister of Commerce and Industry of India and Minister of Economy, Trade and Industry of Japan. Both sides committed to an Action Plan to promote two way investments between India and Japan. Action on various initiatives including the Delhi Mumbai Industrial Corridor project and the Chennai Bengaluru Industrial Corridor project is progressing ahead. |
