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      Japan sees enormous potential in Indian manufacturing sector

      Posted AtAgencyfaqs

      Company Release, July 27

      India is well on its way to become the IT and manufacturing kingdom of the world. This was stated by the Japanese Ambassador to India, Mr Y Enoki, while addressing industry leaders at the Â'Succeeding In JapanÂ' Manufacturing Workshop, organised jointly by the Confederation of Indian Industry (CII) and India Japan Initiative (IJI). Mr Enoki remarked that with IndiaÂ's manufacturing sector now being exposed to international competition, the time was ripe for Indian manufacturing sector to strike back, after being in the doldrums for quiet some time.

      The Japanese Ambassador said that India and Japan could complement each other, as both the countries have lot in common. He said that with India set to become the IT and manufacturing kingdom, there was good reason for optimism.

      Remarking that India was once regarded as a manufacturing powerhouse, but closed economic policies of the past had led to the sector underperforming. However, the Ambassador observed that economic liberalisation of the 1990Â's had led to a resurgent manufacturing sector and the economy as a whole.

      The workshop brought together on one platform, some of the most telling success stories in manufacturing partnerships between India and Japan. Inaugurated by His Excellency, the Ambassador of Japan to India, Mr. Yasukuni Enoki, the workshop saw experts from both Indian and Japanese business houses who have fostered successful partnerships between the two countries viz, Mr. Vikram Kirloskar from Kirloskar Systems Limited, Mr. Munakata, Managing Director, Mitsubishi Corporation India Pvt. Ltd., Mr. Kiomichi Ito of Toyota Kirloskar Auto Parts, Mr. Katumi Nomoto Adviser, Anest Iwata Corporation, Japan and representatives from Hero Honda, Maruti Suzuki.

      Speaking on the occasion, Mr. Vikram Kirloskar, Chairman, Kirloskar Systems Limited said, "The Indian manufacturing industry, which had a slow start in the year 2002 is now witnessing a substantial boost in manufacturing exports, outsourcing contracts and new investments. India's manufacturing sector is reviving with soaring profits. Today, manufacturing perhaps is one of the fastest growing sectors in India with a bulk of the inflow coming from a large number of Japanese companies setting base in India." He further added, "We feel that the India Japan Initiative would leverage the vast knowledge, experience, relationships and affinities accumulated through past interaction, to pave the way for a sustainable, long term and fundamentally sound relationship for a common future in the globalised world"

      According to Mrs. Geetanjali Kirloskar, Chairperson-India Japan Initiative, "Today, the potential for business with Japan is huge, however it remains unutilized. India is a preferred investment destination for many companies across the world. Countries have recognized India's competitive strengths in Information Technology and Services, Pharma, Bio Technology, Auto Components, etc., and have been steadily increasing their investments here."

      She further added, "Given the large number of Indo-Japan partnerships in the fields of manufacturing, software and biotechnology the need of the hour is to learn, share and appreciate the experiences of Indian companies of how they can manage the requirements and expectations of Japanese production systems and vice versa. IJI seeks to play a major role in building an appreciation of the cultural matrix, with strong business implications."

      The workshop sought to identify and understand world class manufacturing excellence by providing an insight into Japanese production principles and processes, the cultural context to adapting technology processes and practices and the key tenets for successful partnerships. Attended by senior representatives of manufacturing businesses, the workshop was a working session where information and knowledge were combined with practical demonstrations, insights and inputs from the Japanese market.

      July 27, 2005


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