FDI inflow in Bangalore around USD 9.3 bn in last 10 years
Bangalore, Feb 28, 2013 (PTI) 19:59 IST
Bangalore has witnessed FDI inflow of around USD 9.3 billion in last ten years and investment from Japan comprises around 15 to 20 per cent, a Japanese expert today said.
Though majority of Japanese investment is happening in auto and engineering sector from Japan, it is also happening in other varied sectors like construction equipment, IT and electronics, infrastructure and hospitality, among others, Japan External Trade Organisation (JETRO) Chief Director General Naoyoshi Noguchi told reporters here.
In addition to Toyota and Honda, two-wheelers and their component suppliers like Aisin, Japanese companies like Sony, Komatsu and Hitachi are also intensifying their activities in the state, the official said.
Some significant upcoming investments are happening in social sectors, Noguchi said adding 'Secom' is establishing the first Japanese Hospital in India by April next year forming a joint venture with Toyota Tsusho and Kirloskar Group with an investment of around Rs 154 crore.
Similarly, Toyota Enterprise, a subsidiary of Toyota Group involved in hospitality business, has joined hands with Bangalore Hyagreeva Group and is in the process of renovating The Chancery Hotel as a Japanese business hotel which will be operational by January next, Noguchi said.
Bangalore is housing around 230 Japanese companies and added around 50 new companies in last one year, Noguchi said.
On an average, the number of Japanese companies is increasing at a rate above 20 per cent every year, he added.
Number of Japanese expats living in Bangalore is approximately 900 which is highest after the Delhi region, Noguchi said.