Sitharaman meets JBIC governor, seeks greater investments for India

NEW DELHI: Finance Minister Nirmala Sitharaman on Wednesday met governor of Japan Bank for International Cooperation (JBIC) Hayashi Nobumitsu, where she discussed ways with the institution to bring in more investments in India.

"FM Nirmala Sitharaman met Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation (JBIC), in New Delhi, today, to exchange views on JBIC's recent activities in India contributing towards Japan’s investment target of five trillion yen over next five years," the Finance Ministry said in a series of tweets on X (formerly Twitter).

"The Union Finance Minister 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 and encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank,

NIIF and lending banks to leverage the strength and complementarities of both countries," the ministry said.

Sitharaman spoke about the PMGatiShakti initiative and other enabling policies developed in the blue economy sector and urged JBIC to bring in investment to India for processing of marine food products, logistics and transportation development and also in emerging sectors like artificial intelligence, Hydrogen-based energy and semi-conductors.

"JBIC Governor appreciated the initiatives of Government of India towards facilitating #investment through various instruments like PLI schemes and National Infrastructure Pipeline #NIP; besides GST reforms," the ministry said.

Nobumitsu stated that JBIC is also looking forward to explore more opportunities for mutually beneficial engagements between the two countries.