Sitharaman meets Japan Bank's Governor for international cooperation

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday met Hayashi Nobumitsu, Governor, Japan Bank for international cooperation, on the sidelines of the 56th ADB Annual Meeting which is being held in Incheon, said the Ministry of Finance in a tweet.

During the interaction, Sitharaman discussed "the engagement of JBIC with Indian financial institutions like EXIM bank, NIIF, and lending banks to leverage the strength and complementarities of both countries for facing local, regional, and global financial challenges."

Sitharaman discusses various initiatives taken by govt

Sitharaman also discussed several initiatives taken by the central government "towards facilitating investment, like the PLI scheme, NIP, reforms in GST, and Insolvency & Bankruptcy Code, among others, and hoped JBIC will use this enabling environment as an opportunity to expand marine products and seaweed processing in India."

Sitharaman urges JBIC to invest in India for processing marine food products

Apart from this, Sitharaman also emphasised on government's policies which are specifically supporting the Blue Economy sector in India, and "urged JBIC to invest in India for processing marine food products beyond just cleaning and packaging."

JBIC is looking at opportunities in marine food processing sector in India

With his discussions with Sitharaman, Hayashi informed that JBIC has already made an investment of USD five billion in infrastructure and manufacturing sectors in India. He also stated that JBIC is looking at opportunities in the marine food processing sector in India.

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