What does Japan want to do?, Modi | Japan | Economic Group Visiting India with Rare Scale
According to the Nihon Keizai Shimbun on July 6, former Japanese Prime Minister Yoshiwei Kan, who is visiting India, will hold talks with Indian Prime Minister Modi on July 6. He will call for an improvement in the business environment and support Japanese companies entering India. The delegation visiting India this time has a large scale, including 101 economic professionals from 54 enterprises in the fields of finance, infrastructure, etc.
According to reports, Yoshihide Suga visited the construction site of a high-speed railway assisted by Japan in Ahmedabad on the 5th. After the visit, he told the media, "Building a high-speed rail will drive India's economic growth. We hope that through cooperation between the two countries, this project can progress smoothly."
In January, Yoshihide Suga succeeded former Prime Minister Shinzo Abe as the President of the Japan India Association, which promotes friendly and friendly activities between Japan and India.
▲ Information image: Former Japanese Prime Minister Yoshihide Suga
According to reports, it is rare for the Japanese government or parliamentary alliance delegation to bring around 100 economic figures to India for a visit. In the past, when Abe was Prime Minister, he led an economic delegation to visit India, but it was only about 10 people in size.
Among the delegation visiting India this time, there are also Mitsubishi UFJ Bank's special advisor Nobuki Hirano, East Japan Railway Company President Yuji Fuzawa, IHI Chairman Jiro Manoka, and Japan Railway Corporation's executive director Ichiro Sato.
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Ichiro Hara, Executive Director of the Japan Federation of Economic Organizations, will also accompany him. People from a wide range of fields such as aviation, construction, energy, and information technology will also visit.
According to the report, it is expected that India's gross domestic product will surpass Japan in a few years. Electric vehicle giant Tesla has a positive attitude towards entering India, and American companies have successively launched plans to invest in India.
On the other hand, due to the difficult business environment unique to India, Japanese companies have been hesitant. The reason is that it is unable to cope with the different legal systems and complex regulations in different states.
"Although the Modi government has greatly improved the business environment, direct investment in India continues to be lower than investment in China and ASEAN," said Shotaro Kumata, director of the Japan Institute of Comprehensive Studies. He emphasized that "to penetrate the Indian market, it must rely on both economic and political means."
During his meeting with Modi, Yoshihide Suga will emphasize improving the business environment to boost the sluggish Japanese companies.