ADB asked to set up South Asian hub in New Delhi.

Indian Finance Minister Arun Jaitley has called on Japanese companies to set up facilities such as manufacturing of rolling stocks for the metro rail systems in India.

He also discussed India-Japan bilateral economic cooperation with Japanese Finance Minister Taro Aso.

Jaitley also met the Asian Development Bank (ADB) President, Takehiko Nakao and discussed India-ADB bilateral engagements.

Jaitley has asked the ADB to set up a regional hub in New Delhi for the South Asia region to keep pace with the growing aspirations of the people and to expedite the process of project preparation and delivery for India and other countries in the region.

He also urged the Bank to adopt country system for procurement, social and environmental safeguards expeditiously.

Jaitley addressed the Board of Governors of the ADB at its 50th Annual Meeting at Yokohama.

Jaitley called for a greater focus on renewable energy keeping in view our commitment to tackle climate change.  fii-news.com