The Hindu : Tamil Nadu / Chennai News : Japan aware of India's importance

Online edition of India's National Newspaper
Wednesday, Oct 19, 2005

Tamil Nadu

Tamil Nadu - Chennai

Japan aware of India's importance

Special Correspondent

" India must convince Japanese businessmen"

CHENNAI: Japan is now well aware of the importance of India as a rapidly-emerging global power in Asia with its continuous high growth of economy, says the Consul-General of Japan in Chennai, Yoshiaki Kodaki.

Economic relations between the two countries were improving. While Japanese manufacturers had decided to make foreign direct investment in India, Indian information technology software companies had developed relations with Japanese companies, he said speaking at a reception, organised by the Indo-Japan Chamber of Commerce and Industry (IJCCI) here on Friday, to a 14-member Tamil Nadu industrial delegation which was to leave for Japan.

He had quite often heard in India about the disproportionate economic relations between India and Japan considering the size of the two economies. It seemed true that Japan had placed much emphasis on South-East Asia and East Asia in developing its economic relations, compared to relations with India. This was probably because of the geographical distance. However, he said, there was a change in attitude towards India in Japan now.

Next month, a delegation from Fukuoka city led by its Mayor is to visit Chennai and Bangalore. Another Japan Business Federation delegation will also be visiting India. A delegation of Japan External Trade Organisation is to visit Chennai and Bangalore in February next year.

It was India's responsibility to convince Japanese businessmen that there were good opportunities to start business in the country.

FDI possibilities

Explaining the possibilities available for Japan for FDI in Tamil Nadu, the Chief Secretary, N. Narayanan, said the State was looking at the automobile sector and manufacturers of consumer electronics. There had been starts in the past. Those had to be embellished now. As far as the Tamil Nadu Government was concerned, it was looking at an outward orientation to the State.

R.Veeramani, president, IJCCI, who is among the delegates, said the team was hoping to bring in large investments from Japan to Tamil Nadu. Chamber secretary-general N. Krishnaswami said the Fukuoka city government was contemplating an MoU with the Tamil Nadu Government.

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