Confederation of Indian Industry (CII) and Keidanren (Japan Business Federation) organized the "India-Japan Business Summit" in New Delhi today. The Summit assumes special significance as it was organized on the sidelines of the 21st International Engineering & Technology Fair (IETF) 2015 where Japan is participating as the "Partner Country".

The Business Summit was attended by about 100 industry representatives from India and Japan which included a 30 member business delegation from Keidanren, led by Mr. Hiroaki Nakanishi, Vice Chairman and Chairman of Committee on South Asia and Mr. Takashi Shoda, Co-Chairman of Committee on South Asia.

Both sides exchanged views on various topics of bilateral cooperation between India and Japan to establish strategic cooperation in public-private partnership to strengthen India-Japan economic engagement.

CII, led by Mr. Sumit Mazumder, President Designate, CII, stated that India and Japan could work together in areas such as SME Development, Skill Development and the Infrastructure sector. More specifically, it was stressed that there is the need to expand Japanese investments in India in areas such as high speed rail transit systems, nuclear and solar power generation, clean coal technologies and upgrading of brown coal.

Keidanren, led by Mr. Hiroaki Nakanishi, Vice Chairman and Chairman of Committee on South Asia identified Rail, Power, and Tourism as the potential sectors for boosting trade and investment between the two countries.

CII and Keidanren are the serving Secretariat organizations for India Japan Business Leaders Forum (IJBLF) from India and Japan respectively. The Forum meetings are held on the sidelines of the Annual Summits between the Prime Ministers of India and Japan. To take forward the various recommendations that are put forth in the IJBLF Joint Report, CII and Keidanren have agreed to institutionalize the IJBLF follow-up mechanism including establishment of Joint Working Groups to resolve outstanding issues.

Through the Follow-up Mechanism, CII and Keidanren agreed to do regular follow up with the government agencies in the two countries on specific actions taken by the government towards speedy implementation of recommendations put forth in the IJBLF Joint Report.

CII and Keidanren agreed that the two organizations will further strengthen their partnership through regular exchange of information on the evolving business environment in both the countries and also promote bilateral economic relations through mutual visits and business delegations.