Singh urges investors to maintain faith in Indian financial system and commitment to enterprise

The Indian prime minister has urged Japan to have faith in the country in the face of the financial difficulties thrown up by the international economic crisis.

Manmohan Singh appealed to Japanese investors to have confidence in India's financial system, while thanking Tokyo for its generous aid in the form of overseas developmental assistance (ODA).

“A vibrant democracy often presents new challenges,” Singh said at a business lunch in the Japanese capital. “I urge you to have faith in our system and our resolve. We are committed to creating a congenial climate for private initiative, risk taking and enterprise.”

He added that the Delhi Metro was the “most visible system” reflecting Japanese ODA.

India receives 30% of all Japanese ODA, having overtaken China as the largest recipient.

Singh described Japan as the “economic and technological powerhouse of the world”, noting that both nations were located in Asia, to which he said the 21st century undoubtedly belongs.

Topics