The Hindu : Andhra Pradesh News : India on Japan's investment radar

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Wednesday, Jun 01, 2005

Andhra Pradesh

Andhra Pradesh

India on Japan's investment radar

Special Correspondent

Fruitful visit, says MP Purandareswari

The Bapatla Congress MP, D. Purandareswari, at a press conference in Hyderabad on Tuesday.

HYDERABAD: Japan External Trade Organisation (JETRO) has evinced keen interest in tapping the investment potential in India, particularly in the fields of automobiles, IT, textiles and agriculture. This was conveyed to a four-member Indian parliamentary delegation which visited Japan last week.

The Congress MP, D. Purandareswari, who was a member of the delegation sponsored by the Confederation of Indian Industry and the Sasakawa Peace Foundation (SPF), told reporters here on Tuesday that Japan's investment in China was up to 34 per cent while it was only one to two per cent in India.

The interactions with JETRO representatives and others had revealed that Japan wanted to enhance its Overseas Development Assistance (ODA) to India. She said India was the largest aid recipient from Japan, having received $1.3 billions last year. However, the Japanese had expressed concern about the infrastructure and felt that setting up industrial estates with adequate facilities would act as an incentive for them to come to India.

She said Suzuki Motor Corporation was looking to invest around $ 500 millions in India to expand the existing company and also launch a motorbike unit.

The Congress leader said she would represent to the Chief Minister, Y.S. Rajasekhara Reddy, regarding the need to capitalise on JETRO's willingness to invest here.

The delegation interacted with members of the Japanese DIET (Parliament), former Prime Minister, Yoshiro Mori, and other political leaders.

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