Japanese firms see opportunities in retail, logistics, F&B, power, hi-tech, healthcare in India
MUMBAI: In order to qualify the opportunity that exists for Japanese companies across all sectors in India, the specialist global risk consulting organization Control Risks, in partnership with Hakuei Kosato – a Japanese entrepreneur based in India and Singapore, recently hosted three exclusive dinner discussion sessions for senior Japanese and Indian business leaders in New Delhi, Mumbai, and Bengaluru.
Takashi Okabe, President of Control Risks Japan with its headquarters in Tokyo flew to India to attend these meetings. One of these meetings also witnessed the participation of Takashi Suzuki, Chief Director General, Japan External Trade Promotion Organization (JETRO), New Delhi as well as Watanabe Ikko, 1st Secretary, Food & Agriculture, Embassy of Japan in India.
According to Hakuei Kosato who is also a Japanese Cuisine Goodwill Ambassador in India, the success of Japanese companies in the automotive, electronics, infrastructure and construction sector in India has created some of the biggest brands in the country over the last few decades.
“Japanese companies in the sphere of retail, logistics, food & beverage, power & energy, high-technology, healthcare, and manufacturing also stand to benefit as India rolls out incentives, subsidies and special investment schemes to encourage more of such global businesses to come to India. In these meetings, the participants also discussed the key risks inherent in doing business – and the importance of sharing best practices, learning from shared experiences as well as proactively planning to manage issues of concern that might stand in the way of Japanese companies looking to grow in India,” he added.
The attendees at the dinner discussion shared and echoed the perspectives shared by Takashi Okabe, President of Control Risks Japan that the opportunities for Japanese companies are unique in India – due to the immense respect the Indian government, business and people have for all things Japan.
“Japanese companies are known to invest for the long-term, commit to the learning & development needs of their employees, transfer knowledge and skills to the country as well as are steadfastly dedicated to doing business in the right way. Japanese brands are not only high-quality but also aspirational. They are known to delivering projects on time as well as to the excellent standards that are promised,” Takashi Okabe added.
Amit Narayan, Partner, India and South Asia, Control Risks, said that India’s commitment to a net-zero objective by 2070 even as it emerges as the largest country in the world by population and the fastest growing major economy in the world puts it in an exceptional position.
He said, “The country will be building physical infrastructure, social services like education and healthcare, sustainable energy sources, adopting high-technology tools for scaling the economy as well as meeting the growing consumption aspirations of its young population. Managing and mitigating risks in India is about creating India-specific products and services, alignment with key stakeholders, establishing a value-based reputation with customers, and supporting India with sustainable development solutions to drive mutual growth. The people-to-people connection between Japan and India will become the firm foundation for this business and geo-political alignment that India and Japan are building – to drive momentum for the next 70 years (and more) of mutual co-operation and growth between the two nations.”
About Control Risks:
Specialist global risk consulting – fundamentally focused on helping clients optimise opportunities.
Control Risks supports clients across all operational risk areas – with designing, developing, and implementing risk-mitigation strategies that help them achieve business outcomes with, without, or inspite of headwinds.
Over the last few years, it has worked with clients on reputation and integrity risk issues, public policy, employee restructuring, stakeholder mapping and crisis management mandates. It counsels clients on regulatory issues, investment decisions, operational and security related risks.
Control Risks South Asia team supports business intelligence, forensics, cyber threat intelligence, data analytics, eDiscovery and technology imaging, litigation support and dispute resolution as well as political & regulatory risk and crisis and security consulting needs of our clients across India and in Bangladesh, Sri Lanka, Maldives, Nepal and Bhutan.
