Japan may announce another package for India's economic & social uplifment

Japan is likely to announce another comprehensive package for India's economic and social upliftment with the forthcoming visit of Prime Minister Shinzo Abe in the next few weeks.

This was disclosed by Japan Ambassador Kenji Hiramatsu.

Addressing an event of PHD Chamber of Commerce and Industry in New Delhi, Hiramatsu said Japanese companies would further raise their pace of investments in India's manufacturing, services and retail sector.

The ambassador pointed out that a great deal of facilitation has been happening in the Indian economy, especially on the ease of doing business part.

However, India's tax regime and other such related regulations need to be improved to enable India corner a large chunk of investments from a country such as Japan.

According to him, the Japanese investments into India have risen from $2.6 billion in 2015 to $4.7 billion in 2016.