"Japan Plus" constituted to fast track Japanese investments
The team, known as “Japan Plus”, will comprise representatives from Government of India and METI (Ministry of Economy, Trade and Industry), Government of Japan.
An outcome of the recently concluded visit of the Prime Minister of India Narendra Modi to Japan, the mandate of the “Japan Plus” team runs through the entire spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare.
The team will support the Government of India in initiating, attracting, facilitating, fast tracking and handholding Japanese investments across sectors.
The team will also be responsible for providing updated information on investment opportunities across sectors, in specific projects and in industrial corridors in particular.
In addition, the “Japan Plus” team will identify prospective Japanese companies, including, Small and Medium Enterprises (SMEs) and facilitate their investments in India.
The “Japan Plus” team will also provide assistance to DIPP in undertaking regular benchmarking studies, identifying bottlenecks and areas of concern in sectors of interest to Japanese companies, and analyzing their impact on industrial development production in India.
“Japan Plus” has been operationalized w.e.f. October 8, 2014. “Japan Plus” will be coordinated by Mr. Kenichiro Toyofuku from METI and will comprise of four Indians and two Japanese officials. “Japan Plus” can be reached at japanplus@nic.in and at k.toyofuku@nic.in
Government has also constituted a Core Group chaired by Cabinet Secretary on India-Japan Investment Promotion Partnership.
"This group will comprise of Chairman, Railway Board; Foreign Secretary and Secretaries of DIPP, Economic Affairs, Expenditure, Financial Services, Revenue, Commerce, Urban Development, Electronics and Information Technology and others. The Core Group will be serviced by Department of Industrial Policy & Promotion. This Core Group will co-ordinate and closely monitor the process to ensure that investments from Japan as envisaged in India–Japan Investment Promotion Partnership are facilitated in various sectors and opportunities of investment and technology transfer are fully exploited," read a government statement.
During the recent visit of the Prime Minister to Japan, the India–Japan Investment Promotion Partnership, as part of the Tokyo Declaration for India – Japan Special Strategic and Global Partnership was announced.
Under this Investment Promotion Partnership, Japan has offered to invest in India approximately 3.5 trillion Yen (US $ 33.5 Billion) by way of public and private investment and financing including Overseas Development Assistance, over the next five years.
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