India Inc. to boost SME co-operation with Japan: FICCI

Indian Industry is seeking to attract large doses of capital and boost the prospects of cooperation with Small and Medium Enterprises (SMEs) and deepen the engagement between Indian and Japanese businesses, said the Federation of Indian Chambers of Commerce and Industry (FICCI) in a press statement. 

A high-powered FICCI delegation led by Mr. Onkar Kanwar, Past President, FICCI and CMD, Apollo Tyres, is embarking on a two-day visit to Japan beginning September 4, 2013 to Japan in order to enhance ties.

The visit is considered significant as it comes at a time when emerging Asia is grappling with reverse flow of capital and infusion of external financial resources has become the lifeline of economies in the region.

The FICCI business delegation, the largest ever, comprises 70 companies and over 100 participants from diversified sectors represented by captains of industry, business heads, senior state government officials as well as top consultants. The delegation will participate in the 38th Joint Meeting of India-Japan Business Cooperation Committee being organized jointly by FICCI and Japan Chamber of Commerce and Industry (JCCI) on September 4-5, 2013.

The bilateral trade between India and Japan has seen substantial growth over the years and reached US$ 18.6 billion in 2012-13. The India-Japan Comprehensive Economic Partnership Agreement (CEPA) signed in February 2011, promises to boost trade to US$ 25 billion by 2014. There are already close to 1000 Japanese companies in India with investments worth US$ 14.75 billion.

To deepen our engagement with Japan and draw more and more small and medium enterprises into the Indian market, FICCI has come out with a 'Guide for Investment in India', a joint endeavor with Amarchand Mangaldas.

This report will be released at the 38th Joint Meeting of the India-Japan Business Cooperation Committee on September 4, 2013 in Tokyo and will be a valuable reference document for Japanese companies eyeing the Indian market or planning business expansion in India.