(For the Japanese version of this article)

Invitation Program – India: Dr. N. Krishnaswami, Secretary-General of IJCCI [2008/10/14]

Invitation Program - India: Dr. N. Krishnaswami
Secretary-General of IJCCI


Outline


This project aimed to expand business opportunities for IT-related companies in Kanagawa Prefecture and India, which has seen remarkable growth in the IT industry, and also to attract Indian companies to Kanagawa Prefecture and thereby energize the prefecture’s IT industry.
In FY2007, Kanagawa Prefecture sent a visiting group comprised of the governor and individuals from Kanagawa-based companies to India (Delhi, Bangalore, Chennai). The group members participated in a seminar on investment in Kanagawa, held meetings to exchange ideas with the Indian central government and state government officials, and toured to view prefectural business operations. In light of that visit to India, IJCCI proposed a reciprocal visit by an Indian corporate delegation made up of 18 executive members from Indian companies and organizations, which resulted in this mission’s visit to Kanagawa Prefecture.

Date: October 14, 2008
Place: Yokohama Royal Park Hotel, City of Yokohama, Kanagawa Prefecture
Organized by: Kanagawa Prefecture, Yokohama India Centre Council, Institute for International Studies and Training (IIST)
Co-organized by: Kanagawa Industrial Promotion Center (KIP), JETRO Yokohama
Supported by: Kanto Bureau of Economy, Trade and Industry (METI), the Yokohama Chamber of Commerce and Industry, Yokohama Foreign Trade Association
Participants:
Eighteen executive members from Indian corporations and IJCCI in Chennai joined the visiting party, including Dr. N. Krishnaswami (Secretary-General of IJCCI) who was invited by IIST. The event was attended by approximately 130 individuals from some 90 different organizations and companies that are considering entering the Indian market.


Invited person


Dr. N. Krishnaswami
Secretary-General of IJCCI


Overview


Below is a summary of (1) the keynote lecture, “Recent Trends in the Indian Economy, Investment Climate, and Japanese Companies” and (2) the lecture, “Business Opportunities between India and Japan,” which were presented at the seminar on the Indian economy, and (3) the networking event and reception.

(1) Summary of the keynote lecture, “Recent Trends in the Indian Economy, Investment Climate, and Japanese Companies” by Mr. Kazumasa Kuboki, Director, JETRO Bangalore
Mr. Kuboki regularly engaged in business with India while employed at Mitsubishi Corporation. From 1978-1981 he lived in Calcutta, and from the year 2000 at the Indo Business Centre, Ltd., he advised small and medium-sized businesses entering the Indian market from Japan. In 2003, he became a foreign investment adviser for JETRO, and assumed his present position in June 2006. He is an expert on India and studied at the University of Delhi as a foreign exchange student.
In his speech, Mr. Kuboki spoke about the current economic situation and future outlook of India, and offered advices and points to keep in mind when Japanese companies develop their business in India. In the September 2006 issue of the publication Foresight, he gave the following “10 Ironclad Rules to Succeed in India Now.”

(1)India’s deficits provide opportunities
(2)The head office must fully commit
(3)Reevaluate India’s market with new ideas
(4)Keep a close eye on state policies
(5)Leverage human resources
(6)Be careful of labor-management issues
(7)Pay attention to tax matters
(8)Hire a consultant
(9)Utilize Thailand and Singapore
(10)Trust the Indian people

(For more information, refer to Foresight, September 2006, pp. 68-69.)

(2) Summary of the lecture, “Business Opportunities between India and Japan: The IT & Automotive Industries in Chennai” by Dr. N. Krishnaswami, Secretary-General, IJCCI

a. Reasons for recommending the state of Tamil Nadu as a place to build your business
Tamil Nadu is blessed with the following favorable conditions and is superior to other areas.
-The political situation is stable.
-The government welcomes investors.
-It boasts a high economic growth rate (the GDP growth rate was 9% in FY2007).
-It has outstanding human resources
(Tamil Nadu has the highest number of technical secondary schools and universities in India).
-Wages are low.
-The cost of living is low.
-Labor unions are peaceful (there are very few strikes).
-Infrastructure is well developed.
-A stable supply of electric power is guaranteed.
-Operating expenses are cheap and there is potential for high profits.
-It has the geographic convenience of both air and sea transport (Tamil Nadu has high quality ports and the largest airport in India).
-Social welfare and infrastructure are well organized (low cost of living, good educational institutions).
-The area is safe.
b.Opportunities for business development in state of Tamil Nadu
In Tamil Nadu, the following business sectors are expected to grow further: electric equipment, software development/provision of software services, autos and automotive components, biotechnology, medications, infrastructure development, textile industry, etc.

c.Government support for investors
The Indian government offers the following support services for investors: land and finance incentives (though dependent on the scale and form of investment, the incentives can include tax exemptions and subsidies for electricity, value-added tax refunds, and low-interest rate loans), a stable supply of electric power and water, single-window investment procedures (for efficiency), formation of a government committee to support trouble-free project implementation.

(3)Networking and Reception
The individuals in the visiting group from India consisted of experts from a wide variety of business fields, including IT software, distribution, textiles, medicine, trading, and tourism. Approximately 130 people from Japanese businesses who were considering expanding to India attended the networking event and reception. They introduced themselves to mission members who hailed from the industry in which they were interested, and enthusiastically engaged in a friendly exchange of ideas.


Mr. Kuboki giving the keynote lecture.

Mr. Kuboki giving the keynote lecture.

Dr. Krishnaswami, the Secretary-General of IJCCI. On the right is Governor Matsuzawa of Kanagawa Prefecture.

Dr. Krishnaswami, the Secretary-General of IJCCI. On the right is Governor Matsuzawa of Kanagawa Prefecture.


The networking event and reception

The networking event and reception

Tamil Nadu The state capital is Chennai, which faces the Bay of Bengal. The city has the best container yard in India and is home to a thriving trade and industry. In particular, the automotive industry in Chennai is growing, earning it the nickname, “the Detroit of India.” Nissan will be moving to the outskirts of Chennai.

Tamil Nadu
The state capital is Chennai, which faces the Bay of Bengal. The city has the best container yard in India and is home to a thriving trade and industry. In particular, the automotive industry in Chennai is growing, earning it the nickname, “the Detroit of India.” Nissan will be moving to the outskirts of Chennai.




International Exchange Dept.

(For the Japanese version of this article)


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