First large-scale investment symposium in New Delhi
On February 7, JETRO held its first large-scale symposium in New Delhi to draw investment into Japan. This was JETRO’s third such symposium in India, (the first and second being held in Mumbai and Bangalore in February 2016), and with the aim of further strengthening economic ties between India and Japan, it was co-hosted by the Confederation of Indian Industry (CII), India’s largest economic association. Speeches were delivered by Japan's Ambassador to India and the Joint Secretary of India’s Ministry of External Affairs as well as representatives from the CII and two Indian companies active in Japan in fields related to IT and automobiles. They spoke on the attractiveness of Japan as an investment destination and the merits of doing business in the country from their individual standpoints. The event was joined by 131 people and covered by numerous media outlets, indicating great interest in doing business in Japan among Indian companies.
Dispelling three fallacies about Japan
In his keynote speech, JETRO Executive Vice President Shigeki Maeda emphasized that India and Japan currently enjoy a close relationship as seen in the positive diplomatic relations between Prime Ministers Modi and Abe. He also addressed three outdated images of Japan held by companies overseas—that of it being “high-cost,” an “exclusive” country and in “economic stagnation.” He explained how Japan’s economy has recovered under “Abenomics,” the strategy of the Abe administration and that office rent is comparatively lower than that of other major urban areas in Asia. Mr. Maeda continued by stating that inward FDI stock has been significantly growing year after year and, in order to reduce barriers to investment, the Japanese government is easing visa restrictions and introducing the "Japanese Green Card for Highly Skilled (Foreign) Professionals,” which will be one of the fastest green card issuance systems in the world. The Japanese government maintains a welcoming posture toward foreign companies.
Keynote speech by JETRO Executive Vice President Maeda
Merits of entry in Japan by Indian companies involved in IT and automobiles
Two representatives from Indian companies operating in Japan talked about the merits of entering Japanese industries related to IT and automobiles, where there are massive business opportunities for Indian companies. Rajiv Shesh, Executive Vice President of the IT company HCL Corporation, revealed that Japan is suitable for establishing business centers including for research and development, and engineering from the perspectives of human resources and the business environment. JK Mennon, Executive Director and CEO of Minda Group, highlighted the stable quality of Japanese products and excellent design, and stressed the necessity of establishing design centers in order to create new products and act as footholds for capturing opportunities in the ASEAN market.
Presentation by HCL Vice President Shesh
Presentation by Minda Group Executive Director & CEO Mennon
PR by Yokohama and Osaka
In order to draw investment into non-central areas of Japan, presentations were also made by local governments and relevant organizations including the cities of Yokohama and Osaka, the Osaka Prefectural Government and Osaka Chamber of Commerce and Industry. Following the symposium, a networking reception was held which included a PR corner to disseminate information on each area's appeal and available incentives. JETRO also set up a consultation corner to respond to individual inquiries from Indian companies.
JETRO Consultation Corner
Outline of New Delhi symposium
|Date||February 7, 2017|
|Venue||Taj Mahal Hotel, Diwan I Am|
|Organizer||Japan External Trade Organization (JETRO)|
|Co-organizers||Ministry of Economy, Trade and Industry of Japan, Confederation of Indian Industry (CII)|
|Visitors||131 people (including 15 people from 15 media outlets)|