- Title: Japan’s trade minister seeks to partner with India in energy sector
- Date: 9th January 2017
- Summary: NEW DELHI, INDIA (JANUARY 09, 2017) (ORIGINALLY 4:3) (ANI) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** JAPAN'S MINISTER OF ECONOMY, TRADE AND INDUSTRY, HIROSHIGE SEKO, SHAKING HANDS WITH INDIA'S POWER AND COAL MINISTER, PIYUSH GOYAL, AND WALKING TOWARDS THE MICROPHONE (SOUNDBITE) (Approximate Japanese translation) JAPAN'S MINISTER OF ECONOMY, TRADE AND INDUSTRY, HIROSHIGE SEKO, SAYING: "We also have common issues due to the fact that both our nations have low self-sufficiency in the field of energy. It will be possible to create a win-win relationship by combining Japan's high-technology capacity with India's mass market and it’s a high-quality and plentiful labour market. It is inevitable that the cooperation between Japan and India in the field of energy will grow in the future, and that has been confirmed in the bilateral meeting earlier with Minister Goyal." CHAIRMAN OF JAPAN BASED NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION, KAZUO FURUKAWA, SITTING (SOUNDBITE) (English) INDIA'S POWER AND COAL MINISTER, PIYUSH GOYAL, SAYING: "This engagement with Japan, I am sure, will help the power sector also develop into a more sustainable, globally competitive and affordable for the people of India and truly serve the people of India to enjoy sustainable, affordable and quality power in the years to come." FURUKAWA SHAKING HANDS WITH GOYAL INDIAN TRADE MINISTER, NIRMALA SITHARAMAN, WALKING AND SHAKING HANDS WITH SEKO SEKO AND SITHARAMAN TAKING THEIR SEATS/SEKO SITTING WITH THE JAPANESE DELEGATION/SITHARAMAN SITTING WITH THE INDIAN DELEGATION/SITHARAMAN SEKO SEKO SPEAKING SITHARAMAN VARIOUS OF MEETING IN PROGRESS
- Embargoed: 23rd January 2017 09:53
- Keywords: Hiroshige Seko Piyush Goyal New Delhi Tokyo energy Nirmala Sitharaman trade
- Location: NEW DELHI, INDIA
- City: NEW DELHI, INDIA
- Country: India
- Topics: Diplomacy/Foreign Policy,Government/Politics
- Reuters ID: LVA0015YCZ3GL
- Aspect Ratio: 16:9
- Story Text:EDITORS PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL
Japan's Trade Minister Hiroshige Seko on Monday (January 09) said Tokyo's technology and New Delhi's skilled labour could combine to help Asia's second- and third-largest economies become self-sufficient in meeting their growing energy needs.
Seko, speaking at an energy conference in New Delhi, stressed the importance for the two countries to cooperate in the renewable energy sector.
"We also have common issues due to the fact that both our nations have low self-sufficiency in the field of energy. It will be possible to create a win-win relationship by combining Japan's high-technology capacity with India's mass market and it's a high-quality and plentiful labour market. It is inevitable that the cooperation between Japan and India in the field of energy will grow in the future, and that has been confirmed in the bilateral meeting earlier with Minister Goyal," he said.
India's power and coal minister Piyush Goyal said a boost in the bilateral cooperation with Japan can improve access to affordable energy for Indians.
"This engagement with Japan, I am sure, will help the power sector also develop into a more sustainable, globally competitive and affordable for the people of India and truly serve the people of India to enjoy sustainable, affordable and quality power in the years to come," said Goyal.
Goyal also highlighted the business opportunities for Japan in India saying that India's power demand is going to expand four-fold in the next 15 years to become one of the largest energy markets globally.
Rapidly growing demand that outstrips supply and an antiquated transmission system mean much of India still suffers regular outages, which hamper investment and force many businesses to rely on costly generators for back up.
According to government figures from 2015, India expects peak power demand to double over the next five years from around 140,000 megawatts.
To help meet that demand, 100,000 megawatts of new capacity is to come from solar panels, and of that it wants at least 8,000 megawatts to come from locally-made cells.
Earlier, Seko held talks with his Indian counterpart Nirmala Sitharaman in New Delhi.
Details of the meeting were not immediately known.
According to a government release, bilateral trade between the two countries more than doubled between 2006-07 and 2012-13. However, total trade has come down to $ 14.51 billion in 2015-16 from a peak of $ 18.5 billion in 2012-13. - Copyright Holder: ANI (India)
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