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Special Cell In Mof For Fdi From Japan Likely


The government is planning to set up a separate cell in the finance ministry for facilitating foreign investment inflows from Japan. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the government is working out the modalities before setting up the cell.

According to Rajendra s Lodha, president of FICCI, while $ 3 billion worth of FDI was approved by government in 1998, actually $ 1 billion has come in till now. He said foreign direct (FDI) investment from Japan into the country is likely to double in the next two years.