Comments
Japan is keen on stepping up bilateral trade and investments into India and Andhra Pradesh given the huge potential the country and the State hold, Akio Isomata, Minister Embassy of Japan in India, said.
Speaking at an interactive session hosted by CII and Andhra Pradesh Government in partnership with Japanese agencies of NEDO and METI, Isomata said the recent visits of Prime Minister Narendra Modi and Andhra Pradesh Chief Minister N Chandrababu Naidu to Japan have provided fresh impetus for cooperation.
He said several things have changed last year in terms of relationship between the two nations. Japan is committed to investments of $ 35 billion through both public and private sector partnership over the next five years. The FDI is likely to see a major boost.
“There has been surge in interest in India. There are over 1200 Japanese companies who have invested in India but still face a lot of problems including infrastructure, administrative and complicated tax structures. However, we hope all these would be sorted out as this would pave way for a number of investments,” he said.
Naidu said that AP was a “Sunrise State” and the cooperation with land of Rising Sun would accelerate the growth between Japan and AP. After his visit to Japan in November, a number of steps have been initiated, including setting up of a separate desk, encouraging Japanese language and providing clearance to industries within 21 days.
“You can set up a Japanese industrial hub, city, take part in Capital development, metro and power projects and another Tokyo in AP,” he said assuring all support.
Most of the projects would be offered under the public, private partnership (PPP) mode and these have potential to invest about $ 30 billion over the next decade and companies could tap into opportunities that unfold, he said.
Hiroshi Kuniyoshi, Executive Director, New Energy and Industrial Technology Development Organisation, said, “The 100-plus strong delegation shows the interest in playing a role in the development process.”
Ken Sasaji, Executive Director, Ministry of Economy, Trade and industry (METI), Japan, said both the Prime Ministers support to double the investments would support Japanese companies to develop business in AP. AP could play a vital role in this growth serving as a gateway to the region.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.