India Can Get Billions of Dollars in FDI from Japan: Chanda Kochhar

"Clean energy has also a lot of potential, while in electronics space a number of Japanese companies are already present and there could be much more opportunity in terms of those companies setting up their new manufacturing base in India," she said.

Kochhar added: "Biotechnology is another emerging arena, while skill development is also presenting a huge opportunity as India's vast labour force would need necessary skills and Japan can be a partner country on these efforts."

ICICI Bank and JBIC have built close cooperative ties over the years through loan commitments in support of development of local industries important for Japanese companies expanding their operations in India, trade finance, renewable energy and energy efficiency projects, and exports of machinery and power equipment from Japan to India.

Besides, ICICI Bank had also raised 50 billion Japanese yen bonds last year.

When asked whether the bank can tap that route again, Kochhar said: "We keep looking at opportunities and whenever some good opportunity comes, the bank will take a decision."

Earlier today, Modi addressed top business leaders of India and Japan and invited Japanese businesses to join India's developmental efforts with a promise of "non-discriminatory and speedy clearances" and announced setting up of a Special Management Team under PMO to facilitate business from Japan.

Addressing top business leaders of Japan and India here, Modi flagged the recent decisions to liberalise FDI policy in the railways, defence and insurance and said rules and laws are being changed in India which would show results in the near future.

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