Both the countries agreed to set up a mechanism of Joint Working Group to work out various collaborative efforts such as co-production of films and animation, skill development, exchange programmes between training institutes.

India and Japan reaffirmed the importance of an early conclusion of the negotiations of an Agreement for Cooperation in the Peaceful Uses of Nuclear Energy, taking into account the joint statement of May 29, 2013 between the two prime ministers. Both the countries endorsed bilateral cooperation in energy efficiency and conservation, renewable energy, conventional power, coal, petroleum and natural gas. They agreed to extend this cooperation jointly to East Asia and ASEAN.

The visiting Japanese Minister of Economy, Trade and Industry, Toshimitsu Motegi had series of meetings with Indian ministers of commerce and industry Anand Sharma, information and broadcasting Manish Tewari and the Deputy Chairman of the Planning Commission of India Montek Singh Ahluwalia here on Wednesday and Thursday.

Japan has agreed to resolve the issue of problems faced by Indian marine exporters regarding the level of Ethoxyquin in shrimps by the year end. The Indian Minister of Commerce and Industry Anand Sharma raised this issue in his meeting with visiting Japanese minister. He said that “as the standards in India meet that in other sensitive markets like EU, this matter needs to be expedited by Japan within a specific time frame.” On this the Japanese Minister Motegi replied 'we have received the request. The concerned agencies are engaged with the same. They have been asked to look into a solution by year end.'

Earlier, during his visit to Japan in May 2013, The Indian Prime Minister Dr Manmohan Singh too had raised the issue in light of the fact that the move has severely affected the marine export from India.

In September 2012, Japan’s Food Safety Commission announced new regulations that would impose compulsory testing for Ethoxyquin in shrimp consignments. The regulations brought out in 2012 introduced health standards tolerate Ethoxyquin levels up to 0.01 ppm, down from the previous 1 ppm. According to MPEDA press release dated June 24 2013, in the year 2012-13 “export of Frozen Shrimp decreased by 11.07% in quantity terms and 21.92 % in dollar terms mainly due to the Ethoxyquin issue with frozen shrimp exports from India.”

India and Japan also charted out a roadmap to boost investment between the two countries. The two ministers were of a firm view that India’s growing economy and stable investment climate offer large opportunities for Japanese companies.

“Our action plan focuses investment in export oriented manufacturing. Japan has shown tremendous interest that will lead not only foreign investment flows, bring in a culture of quality and high-end management practices in Indian industry along with creation and strengthening supply chains” Sharma said.

In order to make the business environment amiable, the Japanese side agreed to hold business matching activities for procurement of automobile parts and raw materials in Chennai and Pune this year. It will be organized by Japan External Trade Organization (JETRO) for further consolidation of supply chain networks between both the countries. The Japanese side will also hold Japan-India Energy Exhibition in 2013 by JETRO and New Energy and Industrial Technology Development Organization (NEDO) for business alliances in energy-saving sector. Same business matching exercise will be carried in the companies involved in creative industries.

For further enhancing cooperation with the Central and State Governments on investment promotion and facilitation, the Indian and Japanese side felt the need of the establishment of institutional mechanisms and frameworks for exchange of views on issues related to investment among Government of Japan, Indian and Japanese businesses, Ministry of Commerce and Industry and various State Governments. The business delegation of both the countries strongly urged for the promotion of dissemination of investment information related to both Central and State Governments including investment rules, regulations, policies and procedures. Acting on this, the Japanese side will provide information to Indian investors on all aspects of doing business in Japan, offer free temporary office space throughout Japan by JETRO, and receive any inquiries from Indian investors regarding investment in Japan to give assistance on individual case in cooperation with relevant ministries by JETRO. Apart from this, the Japanese side will also support Japanese small and medium enterprises` investment in India through the establishment of SME Overseas Business Support Platform in Mumbai and Chennai by JETRO from 2013.

The Japanese side will also support capacity enhancement of export supporting institutions such as Federation of Indian Export Organizations (FIEO) through JETRO. Both sides will also start industrial human resource development by utilising The Overseas Human Resources and Industry Development Association (HIDA) programmes to develop and upgrade skills and promote investments in India`s manufacturing sector.

Both sides agreed to promote investment in India by Japanese companies which will enable these companies to export from India to neighbouring countries including countries in Indian Ocean Rim Association for Regional Cooperation (IOR-ARC).

The Indian and Japanese business leaders also sensed the need to establish one-stop investment centres in the respective countries to provide assistance and advisory services to the business sectors including information on regulatory regimes, incentives, infrastructure and facilitation of operating licenses and permits.

Sharma further stressed on the fact that although there has been increasing flow of Japanese investments over the last five years, it is still much below the potential that exists between our two countries. “There are huge opportunities for investment in sectors like infrastructure including investments in DMIC region; power; metals; renewable energy; manufacturing; automobiles and auto parts; agro processing and food processing; Electronics Hardware Manufacturing (EHM) and creative industries,” he said.

The presence of Japanese companies in India has increased from 555 sites in 2008 to 1422 sites in 2011 and is expected to reach 2500 sites by 2015. Japan has partnered India in several high-key, high-value, high-priority projects like the Western Dedicated Freight Corridor Project and the Delhi-Mumbai Industrial Corridor Project. From April 2005 to March 2013, the cumulative Indian investments into Japan are around $371.46 million. While, on the other hand, according to JETRO, Japanese investments in India are around $15.93 billion inclusive of FDI as well as portfolio investment and mergers and acquisitions.

India and Japan also agreed to encourage and promote cooperation among the film and animation industries of the two countries through its film festivals, co-production and other collaborative efforts.

Indian Information and Broadcasting Minister Manish Tewari and Japanese Minister for Economy, Trade and Industry Toshimitsu Motegi have signed a Joint statement in this connection.

Both sides have also decided to set up a mechanism of Joint Working Group to work out various collaborative efforts such as co-production of films and animation, skill development, exchange programmes between training institutes.

Tewari told the Japanese delegation about New Delhi's proposal to set up a National Center of Excellence in Animation, Gaming and Visual Effects at Mohali in Punjab. He also proposed Japanese partnership in the project in view of Tokyo's established strength in the animation industry. Both the ministers welcomed Japan's Country Focus participation in this year's International Film Festival of India in Goa.

Reciprocating to this, the visiting Japanese Industry Minister Motegi described the signing of the Joint Statement as historic step. He said Japan is pursuing a strategy for expansion of Japanese content, fashion, tradition and culture to Asian countries.

The visiting Japanese Minister Motegi also signed a joint statement with the Deputy Chairman of the Planning Commission of India, Montek Singh Ahluwalia reaffirming the importance of an early conclusion of the negotiations of an Agreement for Cooperation in the Peaceful Uses of Nuclear Energy, taking into account the joint statement of May 29, 2013 between the two prime ministers.

Both the countries endorsed bilateral cooperation in energy efficiency and conservation, renewable energy, conventional power, coal, petroleum and natural gas. They agreed to extend this cooperation jointly to East Asia and ASEAN.

India and Japan recognized the need to promote energy cooperation in the East Asia Summit Energy Ministers Meeting (EAS EMM) as well as to demonstrate leadership for enhancing energy security in East Asia. Moreover, both sides praised the research study on the strategic usage of coal through Clean Coal Technologies and the optimization of the electric power infrastructure, etc., by the Economic Research Institute for ASEAN and East Asia (ERIA), which supports the enhancement of energy cooperation in EAS EMM.

They expressed hope that progress would be made in discussion on energy security and improvement of the market among countries with large energy consumption at the IEA Governing Board at Ministerial Level to be held in November 2013.

Both India and Japan stressed that bilateral cooperation in the framework of India-Japan Energy Dialogue should not be limited to the above-mentioned activities, and such cooperation should be further deepened. Both sides decided to hold the 8th India-Japan Energy Dialogue in Japan at a mutually convenient time in 2014.