India, Japan each seek deals during Modi\\\'s visit

Japan and India both have much to gain from a visit by Prime Minister Narendra Modi and more than a dozen Indian steel, energy and IT tycoons that begins Saturday in the ancient capital of Kyoto. The two countries have complementary economies, given Japan's wealth and technological prowess and India's natural resources and drive to modernize its economy. So far, though, they have failed to capitalize much on those mutual interests. The two countries signed an economic cooperation agreement in 2011 that is gradually dismantling tariffs, but trade between the two — despite gains — remains a tiny fraction of their overall import and export flows. That's partly because of India's restrictive policies toward foreign investment and partly because Japanese companies have been so focused on China. Analysts expect Modi's visit with Prime Minister Shinzo Abe to yield some substantial agreements, and possibly a long-awaited deal on cooperation in nuclear power generation technology. But in the long run, Modi must deliver on promises to improve his country's investment environment while balancing India's growing engagement with both Japan and rival China, according to AP.