Japanese manufacturing firms prefer India for investments
06 Dec 2013
India is being viewed by manufacturing companies in Japan as the top destination for investments over the next three years, reports quoting Masanori Nakano, consul general of Japan in Chennai, said.
Despite the global economic slowdown, India has clocked a growth of 5 per cent, which makes Japan's manufacturing sector choose India over China, Thailand, Vietnam, Brazil and Indonesia for investments, he said.
He was addressing an automobile components fair jointly organised by Automobile Components Manufacturers Association (ACMA) and Japan External Trade Organisation (Jetro).
He said the event was aimed at exploring procurement possibilities by the Japanese automobile industry and formed part of the India-Japan initiative to strengthen ties.