The hostile environment in China for their enterprises is making Japanese companies look at India.
Their renewed interest could be capitalised by India by improving the power situation and putting in place procedures that are faster and more transparent.
Yasuyuki Kitamura, representative, Singapore office of the Kanagawa Prefectural Government of Japan underscored this in an interaction with The Hindu on the sidelines of a two-day Japan-India SME conference that began here on Monday.
Yoshifumi Watanabe, Senior Supervisor, Foreign Business Division, Commerce, Industry and Labor Bureau of the Hiroshima Prefectural government, earlier told the meet that Japan was looking at India from the perspective of risk mitigation.
Addressing the conference, Mr. Kitamura said Kanagawa was keen on attracting investments from Indian SMEs. For this, it planned to launch a subsidy scheme, he added.
The conference, being organised by Indo-Japan Chamber of Commerce & Industry (IJCCI), provided a forum for senior officials of the four southern States and Gujarat to do some hard sell.
Bank of Tokyo Mitsubishi UF J Ltd Advisor Yoshihiro Watanabe said Japan and India needed to stand shoulder to shoulder to take on China. Consul General of Japan in Chennai Masanori Nakano said Japanese companies saw India as the most promising for long-term investment. President of Japanese Chamber of Commerce and Industry in Chennai Jun Mukoyama said for Japanese and Indian companies it was the right time to cooperate and reinforce each other.
IJCCI president N.Krishnaswami said the conference was an attempt to bring closer Indian and Japanese businesses.