NEW DELHI: Japanese companies such as Honda Motors, Mitsubishi, Suzuki and Nissan have lined up huge investments in India totalling $1.8 billion in the next three years, the Secretary, Department of Industrial Policy and Promotion, Ajay Dua, said here on Friday.

Addressing a press conference, after inaugurating JETRO's (Japan External Trade Organisation) Business Support Centre in India (BSCI) here, Mr. Dua said investment by Japanese companies was expected to increase three-fold this fiscal. According to the JETRO Chairman and CEO, O. Watanabe, such inflows continue to be discouraged by inter-State taxes and gaps in infrastructure.

Among the 21 Japanese companies which have evinced interest in investing in India, the most keen on expanding business are the auto majors. "We are expecting $600-million investment in India by the end of this year, from $200 million at present," Mr. Dua said.

On the investments planned by the Japanese auto majors, hes said: "Mitsubishi Motors has announced $117 million investment while Honda Motor Co. has committed $200 million to expand their businesses in the country".

Suzuki and Nissan were also coming up with joint investment plans, he said.

Earlier, inaugurating the business support centre in the presence of Mr. Watanabe, Commerce and Industry Minister, Kamal Nath, said the BSCI would help Japanese SMEs to launch their businesses in India. In particular, it would assist the Japanese SMEs by providing them office space, free consultation by experienced advisors and access to business information.

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