Prime Minister meets Mitsubishi delegation led by its president and CEO.
Mitsubishi Corporation of Japan is considering investments in India's infrastructure sector including power, ports and airports.
Indian officials will focus on expanding the country's footprint in oil-rich Siberia when they meet their Russian counterparts at the four-day 7th Eastern Economic Forum beginning Monday in Vladivostok. The two sides will discuss the possibility of joint oil exploration in the area and cooperation in running offshore oil and gas fields Western companies are in the process of exiting, officials said in New Delhi. Pavan Kapoor, India's ambassador to Russia, will lead the official-level talks at the summit scheduled September 5-8.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
TATA Group Chairman Ratan Tata and India-born steel tycoon Lakshmi Mittal will be among seven international business leaders to attend the three-day International Investment Council to be hosted by President Thabo Mbeki this weekend in South Africa.
Mitsubishi, Itochu, Bombardier, Siemens, GE and Alstom want piece of action.
The summit would be held from November 4-6.
The merger, in which TCS will hold 51 per cent stake and Mitsubishi 49 per cent, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
The alliance will extend an existing partnership between the two.
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