Tokyo, Oct 23: While addressing the reception hosted by Japan-India Association and Japan-India Parliamentary Friendship League, Prime Minister Dr. Manmohan Singh has thanked Japan for providing development assistance for India''s industrial modernization.

"In the next phase of our relationship, we seek to exploit the opportunities offered by globalization and by the synergies in our economies to expand flows of trade, technology and investment," Dr. Singh said.

He said that there are around 15000 strong Indian Diaspora in Japan largely involved in the technological professions and have toiled to make a mark in the Japanese society.

While hailing their efforts, the Prime Minister said, "I commend the contribution of the Indian community in Japan. They have built bridges of friendship and understanding between our people."

Singh further added, "Their achievements have made India proud. We wish them well in their adopted home."

Dr. Singh mentioned about the contribution of Jawahar Lal Nehru, Rabindranath Tagore and Jamshedji Tata, grandfather of the Tata group Chairman for bring the two countries together. He also praised the efforts of former Japanese Prime Minister Yoshiro Mori, which opened a new chapter in the India-Japan relationship.

India and Japan have decided to build strategic relations only in 2005 has come a long way. Both the countries have set their trade target to reach 20 billion dollars by 2010 and have signed a joint declaration on security yesterday. (ANI)