Billionaire investor Warren Buffett reportedly has canceled his visit to Japan next week but will still travel to India to launch his firm's insurance selling portal and will meet policyholders at an event in New Delhi, according to information on the company's website.

Buffett had been scheduled to attend a Tungaloy Corp. plant opening in Fukushima prefecture on Tuesday.  Tungaloy is owned by Berkshire subsidiary Iscar, a toolmaker headquartered in Israel.

He had hoped to make the trip, but canceled after authorities in Japan suggested it wouldn’t be the best time to visit, CNBC reported. The earthquake and tsunami-damaged nuclear reactors that threaten to release large amounts of radiation are also located in Fukushima.

Earlier this month, Berkshire Hathaway Inc., the firm run by Buffett tied up as a corporate agent for India's Bajaj Allianz General Insurance, marking its entry into the insurance sector in Asia's third-largest economy, Bloomberg reported.

Berkshire India, which will sell general insurance products through its Berkshireinsurance.com online distribution portal has invited all policyholders to register for the March 25 event at New Delhi's Taj Palace Hotel.

The invitation is limited to one person per policy, and on first-come-first-served basis, Berkshire said on its website.

Buffett, ranked the world's third-richest man by the Forbes 2011 list, is scheduled to attend a ground-breaking ceremony in South Korea on March 21.