JOIN US Extending an open invitation to Japanese companies, Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant said that the companies there should look at making India the hub for exports.
“Japanese companies must relocate their manufacturing base to India like the way Suzuki did. The companies have to penetrate Indian markets, and we will work as your facilitator and catalyst to make India your hub for exports,” Kant said.
Growth momentum
According to Kant, it is important for Japanese companies to manufacture in India so that the country can continue its growth momentum.
“Japan is too expensive to manufacture. It is unfair from the world to expect you to grow at the same pace if you manufacture there. You have to capture India and the world, and for that you have to Make in India,” Kant said.
The Delhi Mumbai Industrial Corridor, and Chennai-Bengaluru corridor are some of the opportunities for Japanese companies to invest in India, Kant added.
Echoing the views of Kant, NITI Aayog Vice Chairman Arvind Panagariya said that both the countries should look at working together.
“Japan can come in, India’s labour can join in and the two can make in India,” Panagariya said.
“Hope that Japanese companies who are in China come to India for manufacturing,” Panagariya added.