New Delhi, Sep 4 (IANS) Japan Monday signed a memorandum of understanding (MoU) to explore opportunities of trade and investment in India's information communication and technology (ICT) and electronics industry.

The MoU was signed between Yutaka Kobayashi, vice minister for economy, trade and industry of Japan who is leading the 30-member delegation of the Japan Electronics and Information Technology Industries Association (JEITA), and Vinnie Mehta of the Manufacturers' Association for Information Technology (MAIT) here.

Top executives of big Japanese conglomerates such as Fujitsu Ltd, Sharp Corporation, Hitachi Ltd, Toshiba Corp, Mitsubishi Electric Corp and many other small and medium electronic companies represent the Japanese delegation.

Said Kobayashi: "Even though trade between India and Japanese has been rising, in the IT, ICT and electronics sector it has been a meagre eight percent which needs to be addressed and that is why this MoU has been signed."

"We will be here for a week now and we plan to explore various opportunities in strengthening trade links with India's IT sector."

Mehta, executive director of MAIT, told IANS: "Through this MoU we will exchange information relating to India's electronics industries, facilitate contact between both the countries government agencies."

"We have a strong R&D base to offer to Japan and fields like nanotechnology and biotech are unaddressed sectors that need investment," Mehta added.