Japanese companies presence grows in India
Japan has offered technological support to Indian industries, especially in the petroleum refining, petrochemical manufacturing and Liquefied Natural Gas.
Making the offer, Japanese Ambassador to India, Kenji Hiramatsu, expressed confidence that steered by the top leadership of the two countries, the bilateral ties between India and Japan will be taken forward in the field of energy cooperation.
Hiramatsu delivered a special address to the 22nd Refinery Technology & Petrochemicals Meet (RPTM) at Bhubaneswar on 13 Jan 2018. The theme of the Meet is “Emerging Trends in Downstream Hydrocarbon Sector”.
The Japanese offer calls following Petroleum and Natural Gas Minister Dharmendra Pradhan told the industry to innovate the work on research and development within the industry, with target to add 200 million tons of additional capacity over the next two decades.
The Japanese presence has been increasing in India with 1,369 companies as of October 2017, an increase of 5% or 64 companies from a year ago.
Given the projected strong economic growth and the ongoing industrialization as well as infrastructure development, Japan has maintained a strong interest in India. In 2006, there were only 267 Japanese companies in India.
India will consume almost 9% of the world energy by 2035, according to Sandeep Poundrik, Joint Secretary (Refineries), who addressed the refiners meet.
He called upon Indian refining industry to focus on producing sustainable energy, reduce import dependence and leverage technology and innovation to keep a flexible, demand-centric product slate. fii-news.com
