Indian leadership should resolve issues related to tax, customs, financial & capital regulations: Japan Ambassador

New Delhi, Dec 24 (KNN) In a communication to Commerce and Industry Minister Suresh Prabhu, the Ambassador of Japan to India Kenji Hiramatsu said he would like the Indian leadership to resolve issues related to tax, customs, financial and capital regulations and infrastructure.

He added, as it would help in achieving "our mutual goal of doubling the number of Japanese companies in India and foreign direct investment to India in five years.”

The bilateral trade between the countries has increased to USD 15.7 billion in 2017-18 from USD 13.6 billion in 2016-17. Trade gap is in favour of Japan. 

Both countries have also implemented a free trade agreement (FTA) in August 2012. 

Ambassador said that the number of Japanese companies operating in India has gone up to 1,441 till October this year, on account of improving business environment in the country. 

The Ambassador said there was a significant increase in the number of companies in metal manufacturing and services. 

"We have completed the annual survey of Japanese business establishments in India, the number of Japanese companies in India has reached 1,441 as of October 2018, which is an increase of 72 companies or 5 per cent as compared to the previous year," Hiramatsu said. 

Manufacturing sector accounts for half of the total Japanese companies, he added.

India has received USD 28.16 billion during April 2000 and June 2018.