PM Narendra Modi includes two nominees of Japan in PMO's special management team

NEW DELHI: PM Narendra Modi on Monday announced that a special management team would be set up directly under the Prime Minister’s Office to facilitate investment proposals from Japan.

The decision to include two nominees of Japan in the special management team is unprecedented and such a system of having nominees of the foreign government will happen for the first time. In his keynote address at the luncheon hosted by business chambers, he said two nominees selected by Japan would also be part of the decision-making team which evaluates business proposal.

Foreign affairs expert and ex-Ambassador of India in Japan, HK Singh, told ET for the first time such a mechanism is being put in place to facilitate Japanese investments under the aegis of the PMO. “We have to now wait to see how Japanese nominees are drawn — whether they are drawn from various Japanese business bodies present in India or sent from Tokyo.”

Former Foreign Secretary Kanwal Sibal, while welcoming the decision, said it remains to be seen whether there would be permanent representations or Japanese nominees would be invited periodically for this mechanism. Modi also announced special mechanisms like Japan Fast Track Channel for Japanese investors in India.