Dr. Takahiro Sato from Japan visited IIT Patna on 30th October and gave a talk in relation to the ongoing project on India-Japan trade and investment: What next after CEPA jointly with Dr. Nalin Bharti IIT Patna.
Professor Sato presented entire India-Japan trade in three parts. Before the world, war-2 India Japan trade was depended for cotton. After independence, it was the trade for steel and after economic reforms, it was the trade for Car. Maruti Suzuki, Delhi Metro, Industrial corridor are one of the interesting examples in this regard.
Professor Sato also emphasized that what will be the next trade that has to be the matter of concern for both the economy in coming years. He mentioned that E-motors may be an area for hope.
IIT Patna and CII Bihar also organized a seminar on Japan’s investment in India with special reference to Bihar, In that seminar, Professor Sato does explain the investment scenario between Japan and India and he pointed out that the number of Japan’s firm has been increased from 550 in 2008 to 1505 by 2018.
As per Japan’s bank of international co-operation, India is ranked number one destination for future investment of Japanese companies in 2014,2015 and 2016. Professor Sato discussed the interest of Japanese firm’s interest in setting up Terra motors unit in Bihar which will lead the export opportunity of Terra Motors firm to ng Nepal, Bangladesh, and many Indian states.
Currently, this production is going on in West Bengal. Bihar is the land of Budha and Japan being the Buddhist country had immense scope in tourism. Professor Sato appreciated the Bihar governments initiative in making entire Budha circuit as the peace corridor.
Dr. Bharti pointed out how Mahindra and Mahindra became a leading investor in Japan and now jointly working with Japanese firm Mitsubishi Agriculture Machinery. Tech Mahindra is also working in Japan. Japan is the 2nd largest drug market in the world and Indian companies Lupin, Sun Pharma had its footsteps in Japan. Many Indian software companies such as Wipro Japan, HCL Japan Ltd, TCS Japan, Cyinet KK, KK nucles, NIIT technologies etc.
Both professors from Japan and India will work for the next two years to find out new opportunities in trade and investment. Bihar will also get some insights from this research.