“Japanese spotlight is on South India as a manufacturing hub”
In the post-pandemic phase, a surge of Japanese investment in India is on an anvil, and the spotlight is on southern India as a manufacturing hub, said Nakayama Yukihide, managing director of the ‘Japan External Trade Organization (JETRO), Chennai.
Speaking at a symposium on “India and Japan in a Free and Open Indo-Pacific”, organized by the Consulate General of Japan in Chennai and the Indo-Japanese Chamber of Commerce and Industry, Mr. Yukihide said after the pandemic, major Japanese companies were considering a new logistics model, exporting Indian-made cars to other countries in Europe and Africa. “Post-pandemic, companies see South India as an export hub. Nissan Magnite is exported to 15 countries,” Yukihide said.
Stressing the need to focus on private industrial parks in Tamil Nadu, he said such parks are convenient for Japanese companies. On the future prospects of Japanese companies in India, Yukihide said companies should focus on digital transformation and related sectors.
Japanese investment is expected in healthy food menu planning based on Japanese knowledge, diabetes prevention food, medical control system and unique medical equipment, compact test equipment, food packaging, business related to energy, manufacturing execution system and technology related to EV batteries.
N. Ravi, Chairman of Kasturi and Sons Limited, said economic relations continued to be the centerpiece of India-Japan relations. “Traditional friendship and courtesy have enabled the two countries to overcome the differences that have arisen – both strategic and perception issues,” he said.
Sanjaya Baru, Fellow Emeritus of the United Services Institution of India, said there was a need for India and Japan to bring their relations into a broader and mutually beneficial bilateral framework. “The synergy in the relationship stems from demographic, economic and technological aspects,” he said.