Tokyo hosts 'Invest in India' road show

Honda, Hitachi, Mitsubishi, Matsushita, and Mitsui have expressed increased interest in India as an investment destination.

Japan's business leaders including senior management from these companies as well as representatives from business associations including the Japan Chamber of Commerce and Industry were a part of the first investment-related road show in Tokyo "Invest in India".

KPMG India in association with the Ministry of External Affairs (Government of India), the Indian Embassy in Japan and the Japanese Institute for Overseas Investment (JIOI) Association for the first time have joined hands to host the road show in Tokyo. The endeavour is aimed at raising cross-border investments between Japan and India.

Highlighting the drivers of globalisation and about the current tax-friendly regime, N K Singh, member of the Planning Commission and head of the committee on foreign direct investment recommendations to the Government of India, appealed to Japanese investors to "bring their skills and knowledge in project management to infrastructure projects in India".

The meeting presented an overview of India's economic climate and highlighted the investment potential for Japanese businesses with a focus on automobiles, pharmaceuticals, infrastructure and services.

The seminar was inaugurated by the Indian ambassador to Japan M L Tripathi. Other key speakers included R Vishwanathan, joint secretary, Ministry of External Affairs and Ian Gomes, country managing partner (India) of KPMG.

Vishwanathan said that the road shows are part of the government's focus on economic diplomacy.

"The ministry is pleased to partner with the private sector to enhance the economic image of India and attract foreign investment," he added, highlighting the proactive role being played by the Indian government with the private sector to expand access to global markets for domestic products and business.

Tripathi commented that India's comparative advantage in knowledge-driven areas of economic activity is now internationally acknowledged.

India has also proved to be a reliable business partner and an attractive destination for foreign investment.

Off late, foreign investors are increasingly considering India a preferred investment destination and an important partner.

India's prospects for attracting foreign investments in the long run have improved significantly, said Gomes, as the country has emerged as a favoured destination for IT-enabled services, as well as knowledge sectors such as biotechnology and R&D outsourcing.