New Delhi, Delhi Dec. 29 (ANI): Visiting Japan Prime Minister Yukio Hatoyama met his Indian counterpart Dr. Manmohan Singh at a private dinner here on Monday.

Both countries later signed two pacts, including one on collaboration in developing eco-cities.

After the signing of the two pacts, Commerce and Industry Minister Anand Sharma said the Delhi-Mumbai Industrial Corridor (DMIC) project has been conceptualised as a global investment and manufacturing destination with emphasis on expanding the manufacturing and services base.

Sharma also said the project will involve a huge investment and initial projection points at a whopping Rs 3,60,000 crore.

The DMIC Development Corporation entered into a pact with the Japan External Trade Organisation for collaborating with the environment-related projects.

Earlier, Japanese Prime Minister met more than 20 of India’s top industry leaders in Mumbai and discussed a host of issues, primarily bilateral trade relations between India and Japan.

Japan and India, Asia’s largest and third largest economies, have been working at improving ties since Japan slapped sanctions on India in response to its 1998 nuclear tests.

Hatoyama launched his visit by meeting Indian industrialists, including Tata Group chairman Ratan Tata and Reliance Industries head Mukesh Ambani.

India wants details of Hatoyama’s foreign policy, particularly Tokyo’s attempts to pursue a foreign policy more independent of Washington and improve ties with China.

New Delhi will also want to know more about India’s place in Hatoyama’s proposed East Asian community with a single currency, inspired by the 27-nation European Union.

Japan is India’s sixth largest investor. Bilateral trade, more than 12 billion dollars in 2008-09, is targetted to climb to 20 billion dollars by next year.

Hatoyama’s talks with India could also focus on climate change policies — with the two countries on opposite sides of the debate, particularly on expanding the scope of Japanese support for renewable energy projects in India. (ANI)