Highest number of Japanese biz delegations visited India in last one year: JETRO India Chief
ACN EXCLUSIVE: However, despite being bullish on Indian prospects, the new companies may take time in entering India as it is not an easy country to understand, and is little complicated also.
NEW DELHI. In a major turn of affairs, visits of the Japanese business delegations to India witnessed a sudden spurt in the last one year. These business delegations from various 18 Japanese prefectures (states) visited India in the last 13 months for exploring investment and collaboration opportunities hinting at a an increased interest of Japanese companies in India.
While disclosing this recently, Takashi SUZUKI, Chief Director General, Japan External Trade Organization (JETRO), New Delhi said that last one year witnessed a highest number of business delegations from Japan to India.
These visits also included delegations led by the former Prime Minister Yoshihide Suga and foreign minister Yoshimasa Hayashi. Former PM Yoshihide Suga had led perhaps the biggest ever 100-member trade delegation to India to look at ways to boost investments in the country to reach their target of 5 trillion yen by 2027.
“The business delegations from 18 Japanese prefectures delegation such as Ibaraki, Ehime, Kochi and others visited India in last 13 months. There were more delegation also as the Japan Embassy in New Delhi too received more visits from different prefectures exploring new avenues in culture as well,” he added.
SUZUKI said the visits from individual Japanese companies to the JETRO office too had risen. “For example, almost every day some Japanese company visits us asking what is happening in India, how they can enter in India.”
He said that there lied a huge potential for more India-Japan bilateral trade as when compared with China, Japanese trade and industry level with India is very small.
With a word of caution, Suzuki, said that despite rise in interest level, the Japanese companies might take their own time to enter India. “It seems it may take some time for them make up their mind and come to India. However, they have business concerns. Honesty speaking Indian is not an easy country to understand, and little complicated also. Convincing them about India is a big challenge for us. They think where their primary start should be – whether Delhi is the best place, or Mumbai or Bangalore? The entry point is the primary question to them. India is such a big country. Tamil Nadu seems to be the best place for Japanese these days. As for manufacturers port is closer, logistics is easier and land is cheaper, and it also have privately promoted industrial parks too.”
JETRO Chief DG went o to say candidly, “We are always thinking how we can push them into India as only lacking part is people to people exchange. There are 1400 Japanese companies in India but China they are 14,000. Around 8,000 Japanese people live in India whereas they are 5 lakh in China. We have a long way to go. The number of Indian visitors to Japan is 54,000 per year whereas Chinese visiting Japan is more than 2 lakh. There are 1500 Indian students in Japan but Chinese number stands at more than 2 lakh. Still we have to increase base of the exchange. I really think Indian people need to know more about Japan, and they should be more interested in Japan.”
As regards the existing 1400 Japanese companies, Suzuki said that they were quite positive about India, and therefore they also had significant expansion plans too.
“Japan is bullish on India as many Japanese companies thinking for expansion plans, setting up their second factory, 3rd factory, or 3rd office as existing Japanese companies are doing good businesses in India. On the other hand, however the new comers from Japan they may take time for step ahead into India in business,” the JETRO Chief DG added.
