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Japan: Andhra Pradesh Chief Minister N. Chandrababu Naidu calls on Japan Prime Minister Shinzo Abe during his Japan visit. (Photo: IANS)

Japanese Firms Slowly Increase Presence in India; Growth at 13%

Finally, Japan has begun turning its attention to India going by the number of Japanese companies registered. It has increased 13 percent or by 137 and totalled 1,209 as of October 2014, compared to 1,072 in October 2013, the Japanese embassy said.

“The total number of Japanese business establishments in India is 3,961 with an increase of 1,419 establishments (56 percent growth) as compared to 2,542 in October 2013,” the Japan embassy said in a statement.

“The increase in the number of Japanese business establishments during the one year under survey is very large,” it added. However, it said that “there were also quite a number of Japanese business establishments which have not been captured in our previous surveys”.

During Prime Minister Narendra Modi’s visit to Japan in September last year, India and Japan agreed to expand their bilateral cooperation in various sectors with Tokyo committing to double its direct investment in India in the next five years from $2 billion in 2013.

A delegation of representatives of key economic organizations like Japan External Trade Organisation (JETRO), Japan Bank for International Cooperation (JBIC), New Energy and Industrial Technology Development (NEDO) and Japan International Cooperation Agency (JICA) that visited India in November discussed their interest in the Delhi-Mumbai dedicated freight corridor and Bangalore-Chennai Industrial Corridor with Indian officials.

Andhra Pradesh Chief Minister N. Chandrababu Naidu was among those leaders who visited Japan last year to invite Japanese firms to invest in the state, after Modi’s successful trade visit.(With inputs from IANS)

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