JETRO welcomes more Indian investment in Japan

PTI

Campaigning on the new-look Japanese economy, which re-emerged on the strength of 'Abenomics', Japan today welcomed an enhanced volume of investment from India.

"With Asia contributing only 16 per cent of inward FDI to Japan, there is scope for Indian businesses to explore Japan," Junya Tashiro, Director General, Japanese External Trade Organisation (JETRO) Bengaluru, said here.

"The Japanese economy is throwing up a new appeal, and now is the perfect time to invest. Doing business in Japan is rewarding for Indian businesses," Tashiro explained while speaking at a seminar jointly with the CII.

Easing out of corporate taxes, a transparent, safe and secure business environment with highly skilled resources make Japan one of the prime investment destinations, he said while eyeing on inward FDI worth 35 trillion yen by 2020.

Speaking on the occasion, Yasuhiko Tanaka, Acting Consul General, Consulate of Japan in Kolkata, spoke of the strong ties between the two countries share.

He said the volume of FDI to Japan from India is quite low compared to Japanese investments in this country and requested the businesses present to utilise the huge scope of doing business in Japan.

Tanaka also spoke of the Internet of Things (IoT) investment initiative understanding signed between Prime Minister Abe and Prime Minister Modi and hoped "from the 100th year of Rabindranath Tagore's visit to Japan, India-Japan business relations will see a new turn." 

Sanjay Sinha, Global HR Manager, Hinduja Tech Pvt Ltd and Prashant Halari, Synoverge Technologies Pvt Ltd shared their experiences of starting business in Japan.

Both Sinha and Halari spoke highly about the commitment, value addition and guidance of JETRO in setting businesses in Japan.

Hirofumi Suzuki, Economist, Sumitomo Mitsui Banking Corp, said, "Since over 80 per cent of the growth in demand comes from Asia and since spending by the middle class populace from Asian countries will increase from 23 per cent now to 55 per cent in 2030, it makes sense to expand business in the Asia Pacific region." 

Suzuki said a good ranking of Japan in terms of ease of doing business would help it in securing more FDIs.

Former chairman of the CII Eastern Region Aloke Mookherjea said Indo-Japan bilateral relations are based on long-term political, economic and strategic interests.

"Japan and India are natural partners as the largest and most developed democracies of Asia, with a mutual stake in each other's progress and prosperity," he added.