 "India, Japan are natural partners: Masanori Nakano")
Consul General of Japan in Chennai Masanori Nakano, who took charge in April 2011, is set to return home. His tenure saw the number of Japanese companies investing in south India increase to 857 from 403, with Tamil Nadu being the major beneficiary -- from 286 in 2011 to 523 in 2013.
The Japan Bank for International Cooperation has said Japanese companies would invest Rs 75,000 crore in India in the next three years.
In an interview, Nakano tells TE Narasimhan India and Japan are natural partners and the Japanese aid flow and investments would only go up. Edited excerpts
It was really a good experience both as a diplomat and also personally. Everything here inspired me. In Tamil Nadu especially, which has a deep historical connection right from 15th Century with Japan. In 1704, when a tall Buddha statue was consecrated at the Todaji Temple in Japan, the master-of-ceremony was Bodhi Sena from Tamil Nadu.
Like any person from outside, what I thought was totally different from what I had experienced. India is a promising country and has a huge potential, though there are problems which can be overcome easily.
During your tenure the presence of Japanese companies almost doubled in south India.
Economic relationship is one strong pillar for both the countries and it had been remarkably developed. The decision of the companies to invest is based on the opportunities they see in the domestic market and the advantages for using India as an operational hub. My office is just a facilitator and comes to help when companies face any administrative problems besides government-related issues. As against 143 companies present in Tamil Nadu in 2008, there are 577 operating today, including Nissan, Toshiba, Yamaha and Mitsubishi.
Is Tamil Nadu losing investor appeal to Maharashtra?
Tamil Nadu is a good manufacturing base. It will continue to attract investment as it has good talent, ports and an excellent social infrastructure. At the same time, companies presence in Maharashtra had gone up in recent times due to greater interest in the financial sector. Apart from increasing Japanese foreign direct investment here, the Official Development Aid (ODA) that Japan extends to other nations is on the rise to India. India continues to be the top-most receiver of ODA from Japan.
What are the challenges Japanese companies face here?
Infrastructure is one big challenge. Though it has improved in the last four years, a lot more needs to be done. We are ready to cooperate to improve it. Japan has funded metro rail projects, water projects, transmission lines etc, which would now be extended to healthcare.
Soon Japan would support governments build outpatients wards. Political stability, law and order, policies are also important for investors. Governments (both Centre and states) should look at initiatives that make business more friendly.
Indians are good visionaries and see everything at the macro level, whereas the Japanese are pragmatic and look for micro-level details. Together, the two nations can do wonders and are natural partners in the new era.
The Japan Bank for International Cooperation has said Japanese companies would invest Rs 75,000 crore in India in the next three years.
In an interview, Nakano tells TE Narasimhan India and Japan are natural partners and the Japanese aid flow and investments would only go up. Edited excerpts
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How was the Indian experience?
It was really a good experience both as a diplomat and also personally. Everything here inspired me. In Tamil Nadu especially, which has a deep historical connection right from 15th Century with Japan. In 1704, when a tall Buddha statue was consecrated at the Todaji Temple in Japan, the master-of-ceremony was Bodhi Sena from Tamil Nadu.
Like any person from outside, what I thought was totally different from what I had experienced. India is a promising country and has a huge potential, though there are problems which can be overcome easily.
During your tenure the presence of Japanese companies almost doubled in south India.
Economic relationship is one strong pillar for both the countries and it had been remarkably developed. The decision of the companies to invest is based on the opportunities they see in the domestic market and the advantages for using India as an operational hub. My office is just a facilitator and comes to help when companies face any administrative problems besides government-related issues. As against 143 companies present in Tamil Nadu in 2008, there are 577 operating today, including Nissan, Toshiba, Yamaha and Mitsubishi.
Is Tamil Nadu losing investor appeal to Maharashtra?
Tamil Nadu is a good manufacturing base. It will continue to attract investment as it has good talent, ports and an excellent social infrastructure. At the same time, companies presence in Maharashtra had gone up in recent times due to greater interest in the financial sector. Apart from increasing Japanese foreign direct investment here, the Official Development Aid (ODA) that Japan extends to other nations is on the rise to India. India continues to be the top-most receiver of ODA from Japan.
What are the challenges Japanese companies face here?
Infrastructure is one big challenge. Though it has improved in the last four years, a lot more needs to be done. We are ready to cooperate to improve it. Japan has funded metro rail projects, water projects, transmission lines etc, which would now be extended to healthcare.
Soon Japan would support governments build outpatients wards. Political stability, law and order, policies are also important for investors. Governments (both Centre and states) should look at initiatives that make business more friendly.
Indians are good visionaries and see everything at the macro level, whereas the Japanese are pragmatic and look for micro-level details. Together, the two nations can do wonders and are natural partners in the new era.