Japanese investors keen on India

Posted AtSify.com

The time is ripe for India to woo investors in Japan who are looking for new locations for investments and manufacturing facilities, according to the Indo-Japan Chamber of Commerce & Industry.A 14-member delegation of industrialists and senior Government officials from Tamil Nadu visited Japan from October 17-21 and met with industry leaders and officials in Japan.

According to R. Veeramani, President of the Indo-Japan Chamber of Commerce & Industry, Japan is looking for new investment destinations. It is time to hardsell India to them.

The delegation from Tamil Nadu was a novel initiative because for the first time, a team was highlighting opportunities in a particular region. The South, particularly Tamil Nadu, is being viewed as an attractive option in Japan.

Highlighting regional strengths and opportunities is the right way to go about attracting investments to India, which is too diverse to be a single package, he saidSpeaking to newspersons on the visit, Veeramani, who led the delegation, said that in its presentations to industry leaders, the team highlighted Tamil Nadu's leadership position in IT, leather, textiles, education, health, and R&D.

Consistent policies and transparent processes are crucial to attract investments from Japan. They look for policies that address the needs in the medium term and the long-term, he said.

Soon, a number of delegations from Japan are to visit India from November. These would include teams from the small and medium-scale industries and others from various regions of Japan such as Fukuoka and Kansai.

The delegation from Tamil Nadu included the Finance Secretary, K. Gnanadesikan; the IT Secretary, Dr C. Chandramouli; and representatives from industries such as pharmaceuticals, garments, hospitality, entertainment, and tourism. The Japanese Consul-General, Yoshiaki Kodaki, said that such efforts to attract investments from Japan should be sustained. This would help to increase contact between Indian industry and that in Japan.

Apart from industrial policies, India should take more efforts to improve infrastructure. Entertainment is another key area needing attention. These are facilities that help increase the comfort for overseas investors.

Not only such facilities should be set up but also made known. For example, to Japanese businessmen golf is important. There are good golf courses in Chennai but those in Bangalore are better, he said.

October 31, 2005