Number of Japanese cos in India sees 13% jump
Amid the government’s efforts to ensure ‘ease of doing business’, the number of Japanese companies in India has increased by 137 in last one year, marking a 13 per cent jump over the previous year.
The total number of Japanese companies registered in India now is 1209 against 1072 as in October 2013, according to official figures. The number of Japanese companies in India is targeted to be raised to 2000 by 2019, official sources said. Japan is one of the countries which Prime Minister Narendra Modi is focussing on for investments.
To make it easier for Japanese companies to do business in India, the government has established a ‘Japan-plus’ unit in the Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce. The cell, which has a Japanese official in it, focuses on facilitating business of Japanese companies in this country and in getting faster clearances. Japan has appreciated this initiative, which was announced by Modi during his visit to Tokyo in August while inviting greater investments from that country. During the visit, Japanese Prime Minister Shinzo Abe had announced that his country will invest up to 3.5 trillion yen of public and private funds to India in five years to finance infrastructure and other projects of mutual interest.
While being happy with efforts to create a better environment for investments in India, Japan has asked the Indian government to address challenges being faced on the taxation and regulation fronts. Modi has been underlining again and again his determination to further improve the business environment in India, including through tax, administrative and financial regulations. He has promised to put in place a tax regime that is simple and predictable.