Tokyo, Nov 11 (IANS): Wooing Japanese investors, Prime Minister Narendra Modi on Friday said that stable, predictable and transparent regulations are redefining the nature of doing business in India.

He said that Made in India and Made by Japan combination could work towards infrastructure building.

"There are futuristic infrastructure projects of second generation. These include the Dedicated Freight Corridor, the Industrial Corridors, High Speed Railways, Smart Cities, Coastal Zones and Metro Rail projects. All of these offer unprecedented opportunities for Japanese industry," Modi said. 

He was speaking at a business luncheon here organised jointly by Confederation of Indian Industry (CII) and Japan business federation, Keidanren.

"Made in India and Made by Japan combination has already started to work and converge wonderfully," he added. 

Japan stands as the fourth largest source of foreign direct investment (FDI) into India.

Creating an enabling environment for business and attracting investments remains top priority for India with e-governance and new legislation regarding Goods and Services Tax (GST) set to simplify and ease the nature of doing business, Modi said.