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'India-Japan co-operation to help link south India to ASEAN'
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SME Times News Bureau | 20 Oct, 2014
Stressing the importance of enhancing connectivity in India's northeastern states, Japanese Ambassador to India Takeshi Yagi Saturday said the "bigger picture" is to eventually link south India with ASEAN countries.
"This is a part of increasing connectivity between India and ASEAN. We already have concrete projects. Another aspect is the Chennai-Bangalore industrial corridor - the bigger picture we have in mind is to enhance connectivity between southern part of India and ASEAN," Yagi said at a lecture at the Observer Research Foundation in Kolkata.
During Prime Minister Narendra Modi's Japan visit earlier this year, Modi and his Japanese counterpart Shinzo Abe placed strong emphasis on co-operation in enhancing connectivity and development in northeast India.
The focus is on linking the region to other economic corridors in India and to Southeast Asia, which would catalyse economic development and increase prosperity in the region.
Yagi said the next step is to aaccelerate implementation of these projects and get things done.
"While the immediate focus is on strengthening defense ties, the Japanese expect India to be more forthcoming in terms of economic co-operation," he said.
He said Modi's visit underscored the importance of "exploiting the full potential" of economic ties between the two countries.
The two prime ministers announced the Japan-India Investment Promotion Partnership under which they decided to set a target of doubling Japan's foreign direct investment and the number of Japanese companies in India within five years as an objective to be jointly achieved.
They also decided to work closely towards further expanding bilateral trade relationship to the next stage.
Prime Minister Abe expressed his intention to realize 3.5 trillion Yen of public and private investment and financing from Japan, including Overseas Development Assistance (ODA), to India in five years, to finance appropriate public and private projects of mutual interest.
"We hope India will be more activea if India is really serious about Indo-Pacific integration, it must get over its initial difficulties and make headway," Yagi said.
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Indo-Japan tie up
john Vianey | Thu Oct 23 07:45:03 2014
It will work well only if India Govt make the way clear to Japan Investors and India first need to remove all difficulties and create the way easy for investors to enter into India and do their work.
They are going to invest in India for them also benefit in all means and we should set up every thing good to them.
India will surely get benefited too.
Hope PM Modi is making it so let us all put our effort so that his plan will work.
India and Asean
Hiroshi | Wed Oct 22 05:28:48 2014
These are good times for the India-East Asia relationship, especially for India-Japan. Other than economic, whether we like to say it or not, defence is a major area for potential collaboration between the countries.
At a conceptual level, then, things seem rosy. However, one can quickly see that the huge potential of India-Japan ties is not really translated into ground reality. Japan barely makes it to the top 10 of India's trade partners. Even Indonesia does more trade with India than Japan (Imports Exports)! While the FDI picture is not as bleak, the fact remains that Japanese FDI in India is vastly below potential.
While there are several good, macro reasons for this, some of the micro reasons cannot be ignored. e.g. Japanese are often less tolerant of Indian mannerisms, rules (or lack thereof!), and general business etiquette. While I do not suggest that the Indian system is perfect, it is a ground reality that Japanese need to acknowledge, understand and address. It works both ways, of course - Indians too need to improve general business conditions and understand "the Japanese way". Firms like iRikai and organizations like Japan Foundation are already conducting specialized business etiquette and cultural trainings to address the gap. Hopefully, more Indian and Japanese firms use such opportunities to build the small bridges that are so crucial to realize the full potential of this relationship!
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