The Hindu : Tamil Nadu / Chennai News : Veeraswami invites Japanese investments to Tamil Nadu

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Tamil Nadu - Chennai

Veeraswami invites Japanese investments to Tamil Nadu

Special Correspondent

CHENNAI: Electricity Minister Arcot N. Veeraswami on Thursday urged Japanese investors to “open account” in Tamil Nadu which, he said, had become a premier investment destination for the international business community.

Inaugurating a seminar attended by a high-level Japanese delegation hosted by the Madras Chamber of Commerce and Industry, he said that though since May, 2006, 11 international majors had entered into Memoranda of Understanding, worth Rs. 11,083 crore, with the Government, no investment had so far come from Japan.

The seminar on investment opportunities in Kanagawa-Japan was co-hosted by Kanagawa Prefectural, Government of Japan, and the Japan External Trade Organisation (JETRO) and supported by the Association for Overseas Technical Scholarship and the Indo-Japan Chamber of Commerce and Industry.

Favoured destination

Mr. Veeraswami said Tamil Nadu continued to sustain its stature as a favoured destination for foreign investors after Chief Minister M. Karunanidhi, who laid the foundation for a vibrant industrial growth in 1996, pressed ahead with creating excellent conditions for investors during this tenure.

Shigefumi Matsuzawa, Governor of Kanagawa Prefectural Government of Japan, who led the delegation, said that as one of the top five prefectures in business, Kanagawa’s attributes ranged from highly developed infrastructure, bullet trains and airport connectivity to a high concentration of skilled workers and attractive incentive packages from the Invest Japan Business Support Centre. Kanagawa, which was “close enough to Tokyo to enjoy the excitement yet far enough to catch a spot of calm,” also had the advantage of reasonable real estate compared with the capital, he said. Kazumasa Kuboki, director-general, JETRO, Bangalore, said there were more than 100 companies doing well in Japan.

Aruna Kasinath, executive vice-president and partner, Polaris Software Lab Ltd, gave the Polaris perspective on doing business in Japan.

Sanjay Srivastava, head, engineering, Tata Auto Components Ltd, Pune, spoke on India-Japan business opportunities in the auto components sector.

Madras Chamber of Commerce and Industry president Arun Bewoor said the hallmarks of the Japanese economy included resilience, innovation and miniaturisation that was cost-effective.

Yutaka Miyahara, chief director, JETRO Yokohama, spoke.

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