JOIN USThe first meeting of the special committee on quake disaster reconstruction of Japan’s largest business body-- Nippon Keidanren-- was held to find ways to avoid mandatory restrictions on energy use imposed by the government, as they would have a massive impact on economic activities.
"Japan has overcome difficulties such as opening up the nation in the Meiji Era (1868-1912) and postwar reconstruction. Once again, people will have to unite to overcome the latest crisis," said Nippon Keidanren Chairman Hiromasa Yonekura.
To avoid mandatory energy restrictions or massive blackouts, Nippon Keidanren plans to compile energy-saving measures, including the use of in-house power generation to reduce energy consumption.
The development follows calls to industry by Economy, Trade and Industry Ministry and the Land, Infrastructure, Transport and Tourism Ministry to voluntarily map out and implement energy-saving measures, Kyodo news agency reported.
The Japanese government is mulling limiting the usage of power by major business firms as operating plants like Tokyo Electric Power Co have lost some of its supply capacity following the disaster.
But industry has voiced concerns that their production activities would be significantly affected by the policy.
The IMF has cut Japan's 2011 growth forecast to 1.4 per cent from a previous projection of 1.6 per cent in January after this month's devastating earthquake.
Indian businesses in the automobile and high tech sector are also affected by the shortage in supply of goods due to the disruption in Japanese manufacturing industry.