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Our Bureau

Kolkata, Nov. 2

Japanese investment in India should touch $5 billion in the next three years, according to Mr Sanjay K. Thade, Director in the Department of Industrial Policy and Promotion, Government of India.

Speaking at an “Investment Promotion Seminar: Doing Business with Japan” organised here on Friday by the Eastern Regional Council of the Federation of Indian Chambers of Commerce & Industry, Mr Thade said a substantial portion of Japanese FDI was expected in sectors such as auto, chemicals and infrastructure.

Between 1991 and July 2004, Japan’s cumulative FDI inflow into India stood at $ 2,585 million. This was about five per cent of the total FDI of $ 60.2 billion that India has received since 1991. Between August 1991 and September 2006, 852 technical collaborations have been approved, representing 10.92 per cent of the total number of collaborations that have been approved.

According to Mr Thade, Japan is India’s 13th largest trading partner and the balance of trade is in favour of Japan. Currently, Japan provides an ideal investment platform for Indian companies to get access to other new Asian markets.

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