Japan Pension Funds Should Invest in India Rail, Prabhu Says
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India proposed Japanese pension funds invest in rail projects in the South Asian nation as the government prepares to spend more than $140 billion over five years upgrading its outdated tracks.
Indian Railways Minister Suresh Prabhu said he proposed the investment by Japan’s pension funds during a series of meetings with Prime Minister Shinzo Abe and other ministers recently. The two sides also discussed doing joint research and development on railways, Prabhu said at a speech during a conference on India-Japan economic relations in New Delhi Tuesday, without giving more specific details.