Japan will extend 'special economic partner' status to India during Prime Minister Manmohan Singh's visit to that country next month, its ambassador said on Monday, a move that will help in mobilising investment from Asia's largest economy in a big way.
Addressing a gathering at the Gujarat Chamber of Commerce and Industry in Ahmedabad, Japanese envoy to India Yasukuni Enoki said Tokyo had not extended such a status even to its neighbours like China and South Korea.
"We rank Association of South East Asian Nations as our top business partner in Asia. After that we are extending the special economic partnership to India."
The Japanese ambassador, accompanied by a team, is on a day's visit to Gujarat.
"If we go in retrospect, Japan used to see India as a local player few year's ago. Now, there is a drastic change in our viewpoint and we consider India as one of the three major powers in Asia besides Japan and China," he noted.
In the last few years, there has been a rapid growth in relationship between the two countries, Enoki said, adding that has resulted in development of strategic partnership.
They expect that GDP of India, China and Japan will be same by 2030 and Indian GDP will overtake that of Japan after 2030, Enoki said.
"Now, the time is right for the special economic partnership between Japan and India.
Under the status, Japan will mobilise its investment, technology and knowhow for development of Indian manufacturing industry," Enoki added.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
