The Hindu Business Line : `Investment boom will follow Japanese PM's visit'

Briefing the press ahead of Mr Koizumi's two-day India visit starting April 28, Mr Enoki said that Japanese investment flow into India could see heightened activity if liberalisation gathers greater speed. "I have mixed feelings on the investment climate in India. The current foreign direct investment (FDI) policy is on the right track, but the concern is on the speed of change. If change is faster we could see more investment in the manufacturing sector," Mr Enoki said. He clarified that he was not talking about the procedural details but on the general trend of FDI policy changes.

Mr Enoki said that the first investment wave from Japan into India was in 1997 when investment into India reached $500 million. Investment during the past fiscal was a low of about $10 million. Among the sectors of the Indian economy that is attracting the attention of Japanese investors are information technology, pharmaceuticals, biotechnology, construction and confectionery, Mr Enoki said. He said that a lot of stock market related entities are also looking at setting up base in India. He said that India and Japan would engage in a dialogue to increase the number of Indians proficient in Japanese language.

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`Investment boom will follow Japanese PM's visit'