Japanese FDI: India might make a major announcement during Japan Roadshow 3.0 on Thursday
NEW DELHI: Piyush Goyal, Union Minister of Railways and Commerce & Industry is likely to announce a major policy initiative to attract foreign investment on Thursday when he meets his Japanese counterpart Hiroshi Kajiyama, Minister of Economy, Trade, and Industry (METI) and Japanese investors and industry leaders during “Make in India, Japan Roadshow 3.0: Digital Edition”.
The India representatives of apex Japanese trade and industry bodies like Japan External Trade Organisation (JETRO), Japan International Cooperation Agency (JICA), and Japan Chamber of Commerce and Industry in India (JCCII) have also been invited to participate in this by-invitation virtual event.
Five key sectors namely Electronics, Textiles, Automobile & Capital Goods, Pharmaceuticals & Medical Devices Sector, and Food Processing would be the focus areas during the 2-hour session starting on August 6 morning.
The National Investment Promotion & Facilitation Agency of the Government of India, Invest India has designed this unique forum to conduct detailed conversations between pioneering global leaders from Japan and key decision-makers from the highest levels of the Government of India.
According to sources, already reeling under pressure from Japanese trade and industry associations backed by the Japanese government who have been pushing the Indian government to work towards opening up the economy even further by announcing some more reforms to attract investment from Japan, and lure industry entities that are planning to diversify their production plans and relocate from China to alternate destinations, the Indian government might soon announce some sops to take the advantage of changing paradigm in the new emerging world economic order.
As India reopens for business, the Central and States governments are making strong policy decisions to help investors take advantage of growth opportunities in the country, said Invest India.
Critical aspects for investment decisions ranging from policy incentives, industrial zones, infrastructure capabilities, to special investor facilitation services would be discussed at the Forum by the government officials.
Japan is the third-largest investor in India, and to further attract investments from Japan, Invest India has been steering focussed investor outreach activities.
In February this year, Invest India organized a 5-day Invest in India Japan Roadshow in partnership with the Embassy of India, the Consulate General of India (CGI) Osaka – Kobe, Maier+Vidorno (M+V), and the Solar Energy Corporation of India (SECI). Through the roadshow, Invest India had presented investment opportunities to investors and connected with companies to offer support for helping the companies set up their Indian businesses.
According to Invest India during the roadshow, it had focussed discussions with more than 60 companies across Kyoto, Osaka, and Tokyo. These companies were from diverse sectors including food processing, chemicals, renewable energy, retail, consumer goods, hospitality, logistics, and financial services. As a result, the team was successful in securing nearly 2 billion dollars in pipeline investment, with only 18 of the 60+ companies reporting investments.
