Monday, July 03, 2006

Newsworthy!

Japanese firms to up investment in India
Our Bureau / Kolkata June 12, 2006

India is likely to see a significant fillip in Japanese investment in the near future.According to an India Brand Equity Foundation (IBEF) special report titled "Proven Strategies: Japanese Companies in India", 71% of surveyed Japanese companies in India are planning to increase their investment including majors like Suzuki, Honda, and Toyota.The report was released today ahead of the World Economic Forum's East Asia Summit 2006 in Tokyo on June 15 and 16. The Japanese version of the report would be released in Tokyo on June 14 on the occasion of the India Japan Business Summit and would be presented to Toshihiro Nikai, minister of economic, trade and industry, government of Japan by Kamal Nath, minister of commerce and industry, government of India.The report revealed that a majority of the Japanese companies were planning to expand their production capacity, increase their product portfolio, target new consumer segments and increase marketshare in India.The study, which surveyed 25 successful Japanese organisations in India, highlights best practices adopted by Japanese companies to succeed in the Indian market. The report also includes profiles of 17 Japanese companies with businesses in India in diverse sectors."This report should serve as a strong proof point for Japanese companies looking at globally competitive investment destinations. The companies profiled here are a small sample of the 300-plus Japanese businesses that are thriving in India, today. I invite more Japanese companies to put their faith in the world's fastest-growing free market democracy," Nath said."There is an ideal match between the technology and finance of Japan and skilled and relatively inexpensive labour of India. This can be harnessed further to deliver quality products to the world at competitive costs," Ajay Khanna, CEO of IBEF, said.

No comments: