Manufacturing companies in Japan continue to see India as the top destination for investments over the next three years, according to Masanori Nakano, Consul General of Japan in Chennai.
Despite the global economic slowdown India continues to grow at about 5 per cent.
Japan’s manufacturing sector chooses India over China, Thailand, Vietnam, Brazil and Indonesia as a choice of immediate investments, he said while addressing an automobile components fair jointly organised by Automobile Components Manufacturers Association (ACMA) and Japan External Trade Organisation (Jetro).
Nakano said the event, to explore procurement possibilities by the Japanese automobile industry, is a part of the India-Japan initiative to strengthen trade ties.
Japan’s Emperor Akihito and Empress Michiko are scheduled to visit India on November 30 as a part of a week-long programme.
They will also visit Chennai.
Hidehiro Ishiura, Director-General, Jetro-Chennai, said over a 100 companies, including 46 from Japan, are participating in the fair.
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