UNIDO ITPO Tokyo and Indo-Japan Chamber of Commerce & Industry (IJCCI) co-organized a webinar titled “India-Japan Business Cooperation and Facilitation” on 16 October 2023. The event was moderated by Mr. P.S. Suman, member of the Governing Council of the IJCCI Board, and attended by 150 participants mainly from Japanese and Indian private companies and professionals that are interested in developing business opportunities.
The webinar was opened by Mr. TP Imbichammad, President of IJCCI, who welcomed the audience and key speakers of the audience. He also expressed his desire to organise future seminars that would similarly help develop and strengthen Japan-India B2B and economic relations.
This was followed by an opening remark by Ms. Suguna Ramamoorthy, Secretary General of IJCCI, who stated that India-Japan relations are currently at a historical peak, which is significant to both economies and contributes to increased regional security. She emphasized that India’s fast-changing and digitalised economy is expected to become the 3rd largest in the world within the next 5 to 6 years and encouraged Japanese companies and professionals to make use of IJCCI services, to connect the business communities of both countries for more fruitful interactions.
In his keynote address, Hon’ble Mr. Nikhilesh Giri, Indian Consul General for Osaka-Kobe in Japan, highlighted how India’s emergence as a large marketplace and welcoming FDI policies, alongside Japan’s investment elsewhere nearing saturation, presents new opportunities for collaboration. He also mentioned the overlooked potential for Indian investment in Japan, while noting the pressing need to foster interest towards India among Japan’s younger generation to ensure long-term business relations.
Hon’ble Mr. Taga Masayuki, Consul General of Japan in Chennai, India, made a special address explaining how he has witnessed the openings of multiple Japanese factories and several delegation visits to Chennai in recent years, with such momentum expected to grow with Japan’s commitment to make further investments in India. He also invited Japanese companies to visit India and Chennai in particular to explore new business opportunities.
Ms. Fumio Adachi, Head of UNIDO ITPO Tokyo, cited recent statistics that suggest India needs to consider relative competition with other countries, such as those in Southeast Asia, to become an attractive destination for Japanese business expansion. She also expressed that UNIDO is interested in coordinating with Indian SMEs on potential opportunities that Japanese companies may have overlooked, and to promote administrative districts with well-developed infrastructure and policies that can attract Japanese investors.
The addresses were followed by a short video presenting Sri City, a special economic zone in the state of Andhra Pradesh of India that houses over 25 major Japanese companies and over 30,000 employees, to highlight initiatives by the Indian government to attract Japanese businesses.
The opening session was followed by presentations that outlined current investment opportunities and policies in India for Japanese companies. Mr. Arnav Kalia, AVP of Invest India / Government of India, covered several key aspects of the Indian economy going forward. He outlined several policy and business reforms, improvements in infrastructure, demographic factors, and the digitally empowered Indian society as key drivers to fuel further growth of the India economy. He encouraged Japanese investors to approach Invest India with their queries to enter the Indian market.
Mr. K. Ramesh, a corporate lawyer at PSS Legal Advisors LLP in India, highlighted how current foreign direct investment (FDI) policies in India are “stable, predictable, and transparent”. Emphasis was placed on the ease of processes, with many sectors including manufacturing and IT, being exempt from government FDI approval. He mentioned how FDI reporting procedures have been streamlined and digitized, which promotes an investor friendly environment.
The seminar was concluded with a Q&A session moderated by Mr. P.S. Suman, where questions from the floor allowed for a discussion on key sectors where Japan is investing in India, and how Indian and Japanese companies can further partner for technology transfer, trade. and investment.
Date: Monday, 16 October 2023
Time: 15:00-16:30 (JST) / 11:30-13:00 (IST)
Venue: Online (Zoom)
Organizers: Indo-Japan Chamber of Commerce & Industry (IJCCI), UNIDO ITPO Tokyo
Knowledge Partner: PSS Legal Advisors LLP, India
To be posted on a later date (TBC)
Welcome Speech: Mr. TP lmbichammad, President, IJCCI
Opening Remarks: Ms. Suguna Ramamoorthy, Secretary General, IJCCI
Keynote Address: Hon’ble Mr. Nikhilesh Giri, Indian Consul General for Osaka-Kobe, Japan
Special Address: Hon’ble Mr. TAGA Masayuki, Consul General of Japan, Chennai, India
Special Address: Ms. Fumio Adachi, Head, UNIDO ITPO Tokyo
Presentation 1: Investment opportunities in India and support from Government of India
Mr. Arnav Kalia, AVP, Invest India- Government of India
Presentation 2: Foreign Direct Investment Policy in India
Mr. K. Ramesh, Corporate Lawyer, PSS Legal Advisors LLP, India
Moderator: Mr. P.S. Suman, Member, Governing Council, IJCCI Board
Mr. Gelegen, Ms. Horiguchi, UNIDO ITPO Tokyo