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PM Abe invites Indian business leaders to invest in Japan

PM Abe invites Indian business leaders to invest in Japan, New Delhi, Dec 12 (ANI): Japanese Prime Minister Shinzo Abe has invited Indian business leaders to invest in his country as the economy was improving. Japan’s economy dodged recession in the third quarter with the initial estimate of a contraction revised to an annualised expansion of 1.0 percent, offering a glimmer of hope for policymakers struggling to end years of stagnation. Abe outlined a number of steps taken by his government to regenerate and rejuvenate the economy. The revision to 1.0 percent growth from the preliminary estimate of a 0.8 percent fall considerably exceeded the median market forecast for 0.1 percent growth, suggesting the world’s third largest economy was in better shape than initially thought. Abe said corporate profitability had increased, unemployment was at the lowest and the wage hike was the best in the years. Abe also batted for a strong Japan-India relation. Abe and his counterpart, Narendra Modi, have forged close economic and defence ties aimed partly at pushing back against China’s growing assertiveness in the region. Both are embroiled in territorial disputes with China. India and Japan are likely to finalise an agreement on protection of military information during Abe’s trip that will lay the ground for Japanese arms sales to India, including seaplanes.,

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