Japanese FDI in Tamil Nadu set to rise, says Consul General

With Japanese companies coming to Tamil Nadu in large numbers, competition is expected to increase among States to attract foreign direct investment, Japanese consul general Masanori Nakano said here on Saturday.

Speaking at a special programme on ‘Abe-Modi meet-strengthening Indo-Japan relations,’ Mr. Nakano said the number of companies investing in Tamil Nadu was larger than that in other States, with around 500 business establishments here.

Pointing to the implementation of Chennai Metrorail project by the Japan International Cooperation Agency, Mr. Nakano said the Chennai-Bangalore Industrial Corridor was likely to further increase Japanese direct investment.

Former West Bengal-Tripura Chief Secretary B.S. Raghavan said Japan had “ranked very high in Modi’s scheme of priorities.”

“Concrete and tangible measures are more important. There is tremendous scope for increase in investment. Previous proposals, despite task forces being formed, are yet to take off,” said Mr. Raghavan.

N. Ravi, editor-in-chief,

The

Hindu ,stressed the need for addressing challenges to Indo-Japan relations. Invoking aspects pertaining to a “new feeling of confidence and forward movement” in public consciousness and policy-making, Mr. Ravi said challenges in governance, infrastructure and strategic ties had to be addressed.