Finance Minister Nirmala Sitharaman met the Governor of Japan Bank for International Cooperation (JBIC), Hayashi Nobumitsu in New Delhi today. They exchanged views on JBIC’s recent activities in India contributing towards Japan’s investment target of five trillion yen over the next five years. During the meeting, Ms Sitharaman observed that India has been ranked by the JBIC as one of the most attractive investment destinations in recent years’ survey of Japanese manufacturing companies. She encouraged the engagement of JBIC with Indian financial institutions such as Exim Bank, NIIF and lending banks to leverage the strength and complementarities of both countries.
 
The Finance Minister spoke about the PM Gati Shakti initiative and other enabling policies developed in the Blue Economy sector. She urged JBIC to bring in investment to India for the processing of marine food products, logistics, and transportation development, and also in emerging sectors like artificial intelligence, Hydrogen-based energy, and Semiconductors.
 
The JBIC Governor appreciated the initiatives of the Government towards facilitating investment through various instruments like PLI schemes and the National Infrastructure Pipeline, besides GST reforms. Mr. Nobumitsu stated that JBIC is also looking forward to exploring more opportunities for mutually beneficial engagements between the two countries.