India and Japan reinforce economic and trade relations
India and Japan today reinforced their economic and trade relations and reiterated that the Comprehensive Economic Partnership Agreement (CEPA) between India and Japan currently being negotiated by both the countries will be concluded in 2 years. This was one of the highlights of a Seminar on Facilitating Indian Investments in Japan organized by the Confederation of Indian Industry (CII) in Bangalore. Addressing the captains of the Industry, Ms. Rugmini Parmar, Director, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India said that there is a qualitative shift in the economic relations between India and Japan and added that such a shift is strongly backed by the respective Governments of both the countries. She cited the creation of Indo- Japan Strategic Partnership Group last year as an example of this Qualitative shift. Further dwelling on the complementaries of the economic relations between the two countries, Ms. Parmar said that Japan’s technological expertise and India’s skilled labor are examples of synergies that complement each other. Ms. Parmar also spoke about the complementarities between the two economies in many fields and the need to take advantage of these in order to accelerate economic growth and realize the full potential of the relationship.
In his presentation on the advantages of Doing Business in Japan, Mr. Kazumasa Kuboki, Director General, JETRO Bangalore said that Japan which is the world’s second largest market provides the ideal Investment platform for Indian companies to get access to the other new Asian Markets. Mr. Kuboki added that Japan spends nearly 3.4 % of GDP in Research and Development and suggested the environment in Japan as a preferred testing ground for new product center for R& D in Asia. Mr. Kuboki further said that Japan is giving due diligence to Intellectual Property Rights and a high court is being established in Japan to deal with issues attached with Intellectual Property Rights to facilitate a creative and an innovative business environment
In his presentation on Inside the Japanese IT Business Mr. Samson David, Vice President- Delivery Head-APAC & Canada operations, Infosys Technologies Ltd said that IT market in Japan is the second largest with a value of US$ 100 billion in 2006-07. Indian companies have a sizable presence in Japan with Infosys, TCS and Wipro leading the Indian contingent and to survive in the Competitive markets in Japan, Indian companies need to follow the Kaizen principles working within a framework of Stringent time and quality expectations said Mr. David.
In his opening remarks, Mr. S Anathanarayanan, Past Chairman, CII, Southern Region said that India and Japan needs to improve the bilateral economic cooperation since it is a win- win situation for both countries. Quoting current statistics, he said that Japanese share of Indian trade was just 2.5% in 2005-06 and said there is lot of potential to improve this figure. Suggesting that since a lot of similarities exist between India and Japan in terms of Democracy and Open Market economy, Mr. Anathanarayanan said that India and Japan should strive for improved trade and economic cooperation since 2007 is designated as the Indo- Japan Friendship year.
India and Japan today reinforced their economic and trade relations and reiterated that the Comprehensive Economic Partnership Agreement (CEPA) between India and Japan currently being negotiated by both the countries will be concluded in 2 years. This was one of the highlights of a Seminar on Facilitating Indian Investments in Japan organized by the Confederation of Indian Industry (CII) in Bangalore. Addressing the captains of the Industry, Ms. Rugmini Parmar, Director, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India said that there is a qualitative shift in the economic relations between India and Japan and added that such a shift is strongly backed by the respective Governments of both the countries. She cited the creation of Indo- Japan Strategic Partnership Group last year as an example of this Qualitative shift. Further dwelling on the complementaries of the economic relations between the two countries, Ms. Parmar said that Japan’s technological expertise and India’s skilled labor are examples of synergies that complement each other. Ms. Parmar also spoke about the complementarities between the two economies in many fields and the need to take advantage of these in order to accelerate economic growth and realize the full potential of the relationship.
In his presentation on the advantages of Doing Business in Japan, Mr. Kazumasa Kuboki, Director General, JETRO Bangalore said that Japan which is the world’s second largest market provides the ideal Investment platform for Indian companies to get access to the other new Asian Markets. Mr. Kuboki added that Japan spends nearly 3.4 % of GDP in Research and Development and suggested the environment in Japan as a preferred testing ground for new product center for R& D in Asia. Mr. Kuboki further said that Japan is giving due diligence to Intellectual Property Rights and a high court is being established in Japan to deal with issues attached with Intellectual Property Rights to facilitate a creative and an innovative business environment
In his presentation on Inside the Japanese IT Business Mr. Samson David, Vice President- Delivery Head-APAC & Canada operations, Infosys Technologies Ltd said that IT market in Japan is the second largest with a value of US$ 100 billion in 2006-07. Indian companies have a sizable presence in Japan with Infosys, TCS and Wipro leading the Indian contingent and to survive in the Competitive markets in Japan, Indian companies need to follow the Kaizen principles working within a framework of Stringent time and quality expectations said Mr. David.
In his opening remarks, Mr. S Anathanarayanan, Past Chairman, CII, Southern Region said that India and Japan needs to improve the bilateral economic cooperation since it is a win- win situation for both countries. Quoting current statistics, he said that Japanese share of Indian trade was just 2.5% in 2005-06 and said there is lot of potential to improve this figure. Suggesting that since a lot of similarities exist between India and Japan in terms of Democracy and Open Market economy, Mr. Anathanarayanan said that India and Japan should strive for improved trade and economic cooperation since 2007 is designated as the Indo- Japan Friendship year.
No comments:
Post a Comment