Sunday 06 December 2020

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Economy | Industry

Japanese investors want Maruti-Suzuki feud to end

 

Tourism and infrastructure, the two sectors, which Japan plans to exploit in India immediately, provided Japanese investors are not discouraged by not resolving the Maruti-Suzuki feud amicably.

Toru Toyoshima, chairman of Japan external trade organisation, made the position clear in this regard while also appealing to the Indian government to clear the hurdle of the exit policy, permitting them to pull out from loss-making joint ventures.

A mission from Japan is scheduled to visit India shortly to explore its investment avenues in the tourism sector as well as in building infrastructure and providing technical support in the existing infrastructural sector.

Though the Maruti-Suzuki controversy is still unresolved, Toyoshima informed that Toyota has entered into an agreement with an Indian firm for setting up unit in Karnataka. The site has already been selected.

While Goa's 80 per cent iron ore is exported to Japan, he did not see possibility of increasing the quantity as the country has already shifted to Australia and brazil due to price competitiveness and quality. Japan's steel industry will also not be expanded further as cheaper steel is available in other markets like china.

Australia, in the meanwhile, is keen on investing in Indian mines. "but the mines here are still state-owned ventures while procedural problems are also not done away with", commented roger john Bayliss, who led Australian team for a two-day Asian trade promotion meet here.

Besides Japan, several firms from Singapore and Hong Kong also seem to be interested in exploiting Indian tourism sector extensively. In fact, Michael Cho-Cheung Sze, executive director of Hong Kong trade development council, has promised to send one delegation to Goa, at the request of Goa chamber of commerce and industry.


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