Japan has already made US$25.2 billion investment in the country
Governor of Aichi Prefecture, Hideaki Ohmura, said he will further encourage companies from his region to invest in India.
Speaking during a conference on India in Nagoya city, he thanked India’s Ministry of Commerce and Industry for establishing the Aichi Desk in 2016 within the Department of Industrial Policy and Promotion (DIPP).
Ohmura hosted the Minister of State for Commerce and Industry Ministry Nirmala Sitharaman during the conference.
The conference discussed how India could learn from Aichi Prefecture to grow manufacturing.
Sitharaman urged the Governor to consider diversification of investment in India in other sectors such as Food Processing, Textiles, Medical Equipment, Electronics, Information Technology, etc. Both sides agreed for deeper engagement in future.
The Minister reiterated the potential for huge synergies between India and Aichi Prefecture. She highlighted key reforms undertaken to ease the business operations in India including passage of Goods and Services Tax (GST) bill, advancement of the Budget session, introduction of a new Insolvency and Bankruptcy code, reduction in corporate tax and commitment to level it with international benchmarks, etc.
Sitharaman commended the contribution of Aichi Prefecture towards manufacturing value addition despite high savings rate among the Prefectures in Japan.
She acknowledged Japan as India’s top direct foreign investor with US$25.2 billion invested between April 2000 and Dec 2016. fii-news.com
[http://www.fii-news.com/accelerate-japanese-cooperation/
http://www.fii-news.com/japan-uk-commit-development/
http://www.fii-news.com/japanese-participation-increase/
http://www.fii-news.com/india-japan-work-progress/
http://www.fii-news.com/indo-japan-relations-moving-beyond-delhi-metro/]
