ET Now: Are you reaching out to Japan for increasing investment?
Arun Jaitley: I am interacting both with the investors and the government and the overall Japanese policy has been to increase its level of investment in India and we already have over a thousand Japanese companies which have invested in India. Prime Minister Abe seeks to double it and therefore, I would be meeting individually, also collectively a large number of investors, also the key persons in the Japanese Government and the whole idea is to take the India story with them.
ET Now: Also at this point of time when Japan is leaps and bounds ahead of India in terms of infrastructure and at a time when the government is looking at NIIF, the National Investment and Infrastructure Funds, there are a whole host of meeting also that are lined up with various pension funds. How do you see Japan aiding the India’s infrastructure growth story?
Arun Jaitley: Well, I think, there are people who want to participate in the infrastructure. For instance, the Softbank meeting we have just had, they are looking at one of the biggest investments in solar power already. They have made considerable headway. They have identified the locations and it will probably be one of the largest investments in those areas and I think similarly there are other Japanese investors. We are open to the idea of having them fund fund individual projects. We are opened to the idea of their joining the India infrastructure fund and within this Indian flexibility provides them with more than one opportunity.
ET Now: Have they also identified anything so far, any projects?
Arun Jaitley: Many of them have. For instance, Softbank itself in Andhra Pradesh has identified the solar power project and there are many others who identified. They are also talking and looking beyond solar power now amongst the discussions we have had.
ET Now: You are also supposed to meet Osamu Suzuki BSE -1.18 % and at this point of time when there is a lot of policy uncertainty in India regarding the auto space, there is a ban on diesel car in two states in Delhi as well as Kerala, apart from that…
Arun Jaitley: I think the Indian auto sector is extremely comfortably placed. These are all transient things which happen and I do not think with the kind of large market that Suzuki has, it is in anyway likely to be adversely impacted.