Prime Minister of India sought increased Japanese investment in India during the recent visit of Japans Prime Minister, Mr Shinzo Abe. Both countries have agreed to explore the idea of concrete cooperation in manufacturing and research and development in the electronic sector as well as in energy efficient and energy saving technologies. I believe there is enormous untapped potential in our business ties, said Dr Singh, after the annual summit level meeting between India and Japan. The presence of Japanese companies in India increased 16 per cent last year. Significantly the Andhra Pradesh State Investment Promotion Board (SIPB) recently approved six major investment proposals with a total investment of Rs 6,500 crore (US$ 1.05 billion). Many of the projects hold importance at a national level. For instance, PepsiCos unit will become the largest beverages plant in the country with an investment of Rs 1,200 crore (US$ 191.27 million). Similarly, Cadbury, the worlds second largest and Indias largest confectionary company, is setting up its facility in Sri City with an investment of Rs 2,500 crore (US$ 398.49 million). Industrial investments to the tune of over Rs 2 trillion (US$ 31.87 billion) have been cleared by the SIPB since 2011.
Posted on: Mon, 27 Jan 2014 13:18:48 +0000
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