India, Japan to Deepen Energy Ties: Piyush Goyal

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Tokyo: India and Japan on Thursday deepen their collaboration in the energy sector with Union Minister Piyush Goyal asserting that bringing together the country’s skilled manpower and Japanese technology will create partnerships beneficial for the world.

The two nations chalked out a roadmap for further collaboration in the fields of electricity, renewable energy, energy efficiency and conservation, coal and petroleum and natural gas.

After conclusion of the bilateral Energy Dialogue, Goyal said the cooperation in energy sector should be such that Japanese technology and capital can be dovetailed with Indian high skilled human resources and “Make in India” to create partnerships not only for the mutual benefit but also for benefit to the world.

During the bilateral meeting, Goyal and Japan’s Economy, Trade and Industry Minister Motoo Hayashi reaffirmed their desire to significantly increase the engagement between the two countries in the areas of energy, including renewable energy and energy efficient technologies.

They agreed to have frequent discussions between the Working Groups set up, through video conferences and bilateral visits so that issues related to mutual business opportunities could be taken forward expeditiously.

The two Ministers agreed that such mutual engagement must result in concrete outcomes that can be showcased during the annual summit meeting between the two Prime Ministers. Goyal invited his Japanese counterpart to visit India for the 9th Energy Dialogue in 2017.

Goyal is on a visit to Japan to attend the eighth India-Japan Energy Dialogue that concluded on Thursday. Earlier, Goyal said that Niti Aayog is working actively with the Institute of Energy Economics, Japan (IEEJ) for developing a long-term cooperation in the energy sector which will help India plan its energy security.

India’s collaboration with the Japanese think tank in the energy space IEEJ will help it develop a possible energy mix for the country in the years to come, Goyal said. He also said that Japanese financial institutions have evinced keen interest in investing large amount of capital in various sectors including energy space in India.

Some of the financial institutions with whom the minister had meetings are SMBC (Sumitomo Mitsui Banking Corporation), Mizuho Bank, BTMU (Bank of Tokyo Mitsubhishi UFJ), JICA, NEXI(Nippon Export & Insurance Investment), JBIC.

“Most bankers expressed deep satisfaction at the growing importance that Japan places on Indo-Japanese Strategic Partnership and wish to participate in this engagement,” the minister said.

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