Ø    INDO-JAPAN TASK FORCE

Ø  A Task Force has been set up in pursuance of the MoU between Ministry of Commerce & Industry, Govt of India and its Japanese Counterpart to assist in DMIC planning.  Secretary, DIPP and the Vice-Minister of the Ministry of Economy, Trade & Industry (METI), Government of Japan are the Co-Chairmen.

Ø  Task Force has held nine meetings – five in India and four in Japan and provided useful inputs for the project.  

Ø  First three meetings held before July 2007 were helpful in finalizing the Concept Paper.

Ø  Fourth meeting was held in New Delhi in October 2007 and fifth meeting held in Tokyo in February 2009 where the investors from India and Japan evinced their interest regarding investing in the project.

Ø  Sixth and seventh meeting were held in New Delhi on 13^th July 2009 and 24^th December 2009 respectively where the progress of the Project was reviewed and the future course of action discussed.  As decided in the 6^th meeting of the Indo-Japan Task Force held in July 2009, the following action have been taken:

o   A Japan External Trade Organisation (JETRO) Expert has been posted in DMICDC w.e.f 22^nd October 2009 to provide technical assistance. DMICDC has signed an MoU with JETRO.

o   The Association for Overseas Technical Scholarship (AOTS) under the Ministry of Economy, Trade and Industry (METI), Government of Japan has organized a Training Programme on Trade and Investment Promotion for India in Tokyo for senior officials from DMIC and Nodal Agencies of the DMIC States from 30^th November to 4^th December 2009.

Ø  On 28^th December 2009, DMICDC has signed an MoU with JETRO on “Development of Smart Communities and Eco-friendly Townships”.  Four projects in the following regions/nodes, Manesar-Bawal region, Nashik-Sinnar Region and Dahej & Changodar Regions, identified for proposed pilot feasibility studies.  Japanese consultants for each of the States of Haryana, Maharashtra and Gujarat have been appointed by METI.  DMICDC has appointed an Indian consultant to prepare the baseline database to facilitate the Japanese in their work in India.  MoUs between DMICDC, Japanese consortia and state governments signed on 30^th April 2010.  Updated progress of the four pilot project is given in the DMU report.

Ø  Eighth meeting of the Task Force held on 16^th June 2010 in Tokyo.  Both sides agreed to examine the Financing Scheme for DMIC projects and operationalizing of Project Development Fund at a technical level and report in the next meeting of Task Force.  The Japanese side announced inclusion of another Early Bird Project. It may be mentioned that the Government of Japan is committed to making an equal contribution of Rs 17500 crore or about US $ 3.5 billion proposed to be secured through a commercial loan from Japan Bank for International Cooperation (JBIC), the international wing of Japan Finance Corporation handling commercial operations.

Ø  Ninth meeting of the Task Force held on 21^st January, 2011 in New Delhi.  To facilitate mechanisms for long term lending and investments, both sides agreed to constitute a Financial Strategy Group (FSG) with Mr. Shinoda, Director for Asia and Pacific Division of METI as the nodal officer from the Japanese side, Mr. Talleen Kumar, Joint Secretary, DIPP as the nodal officer from Indian side and Shri Bharat Kaushal as the convener of the FSG. The Japanese side announced inclusion of five Early Bird Projects and delisted two Early Bird Projects.  The Indian side announced inclusion of one Early Bird Project.