Naidu hooked big investments from Japan

Hyderabad, Nov 27 (INN): Several Japanese investors and leading companies have promised Andhra Pradesh Chief Minister N Chandrababu Naidu that they would make huge investments in the State.

The fourth day of the Chief Minister's Japan visit started off with a meeting at Isuzu Motors headquarters. During the meeting, executive vice-president and director of Isuzu Motors Masanori Katayama said that the company wants to establish a manufacturing unit for pick-up trucks in India. He added that they are concerned about the human resource and technical capabilities.

Thailand is the biggest market for pick-up trucks and Isuzu is at number 1 or 2 spot in the pick-up trucks segment in the world. The company has 10 production sites globally.

Katayama said that the company's policy is in line with the Centre's Make in India initiative and also on the policy of Make in Andhra Pradesh. He added that their new facility would be much more modern than the other 44 units across the world. 'The new production site will attract other accessories related to the automobile industry. Many suppliers will come,' he said.

Katayama said that Sri City could be a good destination for us. 'Since you have come here yourself, I think many more Japanese firms might want to invest in Andhra Pradesh,' he added.

Stating that the market awareness of Isuzu in India is low, Mr. Katayama the company is considering Make in AP. 'We hope by coming to AP, we will have a good access to Indian market. In this, we hope to have your cooperation,' he said.

'I expect you to bring some more Japanese companies to AP. Bring some small and medium component manufacturers to our state,' he said.

The Chief Minister said that Japanese firms can transform the business culture in AP and added that 'there's a red carpet waiting for you in India.' He said that he is glad that Isuzu chose Sri City as their destination for the facility.

'I can assure you that you will have better margins in India than in other countries. Our PM had visited Japan even before going to US. This reaffirms the fact that India wants to do business with Japan,' he said. 'During Cyclone Hudhud, your company had donated vehicles to us,' he informed the Isuzu executives.

Explaining that India's demographic dividend is an advantage, he said that India is showing signs of growth. 'Andhra Pradesh is strategically located and is accessible to Kolkata, Delhi, Mumbai, Bangalore and Chennai,' he said.

While AP is strong in technical education and has human resources, we also have a cultural similarity. 'Japan and AP have Buddhism. We are going to develop Buddhist tourism circuits in our state. This will give a fillip to tourism.'

The Chief Minister added that he is planning to introduce Japanese language in one of AP's universities. He expressed happiness over Isuzu evincing interest in skill development mission.

In the second meeting, the Chief Minister and his team visited Mayewaka Manufacturing company which makes compressors. Chairman of Mayewaka Manufacturing Yoshiro Tanaka said that they're keen on working with Andhra Pradesh in establishing cold chains in the state's mega food parks.

Tanaka said that they could provide refrigeration compressors used in cold chains and hospitals. The Chief Minister said: 'The cold chain link is crucial for us. We want to make agriculture profitable.'

We want to create a farm-to-fork model. 'Together, we can prepare an action plan for this. Since Andhra Pradesh has a strong agriculture base, our collaboration in cold chains will prove fruitful,' the Chief Minister said. Pointing to the CII delegates accompanying the AP delegation, the Chief Minister said: 'There's a big business team with me. Speak to them and partner with them.'

'Given that Andhra Pradesh is a top market for marine exports, mango pulp industry, your cold chain technology will benefit our mega food parks,' he added.

At Japanese International Cooperation Agency (JICA), Chief Minister was welcomed by senior vice-president, JICA, Hidaeki Domichi.

Domichi, during his address, said that Sri N. Chandrababu Naidu is one of the most progressive leaders of India. He informed the Chief Minister that JICA is now focusing on Bangalore-Chennai Industrial Corridor and also concentrating on Krishnapatnam Node.

'We have strong interest in Andhra Pradesh, Mr Domichi added. To this, the Chief Minister said that your earlier projects in India were different. 'Now, because India is more open and is on its way to simplifying processes, your experience of India will change and become positive,' the Chief Minister said.

Explaining the advantages and opportunities in the new state of Andhra Pradesh, the Chief Minister recalled his experience of working with JICA of various projects in Hyderabad.

JICA was associated with the Campus Design Project for future researchers at IIT Hyderabad, Campus Design Project for Indian Institute of Technology, Hyderabad, in Transmission System Modernization and Strengthening Project in Hyderabad Metropolitan Area and also the Hyderabad Outer Ring Road Project.

The Chief Minister added that Andhra Pradesh has a good land bank and has no issues with water and power. 'Clearances will be faster. We want to become the best investment destination in India,' he added.

He sought JICA's cooperation in developing industrial nodes and road network, connecting all ports in the state. He also requested JICA to set up an office in Andhra Pradesh.

Responding positively, JICA's Domichi said: 'I'm impressed by your vision and passion. It reminds me of my meeting with Modi in 2007 when he was the CM of Gujarat.' He added that since AP is developing ports, it will be an attractive investment destination for Japanese businesses.

Given that Japan has a lot of industrial parks in South East Asia, the Chief Minister invited JICA to AP and has offered to set up a special authority for Japanese industrial park.

Hiroshi Watanabe, Governor and CEO of Japan Bank of International Cooperation appreciated Naidu's visit to Japan. 'You are engaging with the Government as well as private sector.'

The Chief Minister said that he plans to make Andhra Pradesh a logistics hub. 'According to your own study, India is No.2 destination. We want to make it No.1,' he added. "We will give single-desk clearances, an industrial township authority, he said, asking JBIC for ideas to work with Japan External Trade Organisation (JETRO) and other private corporations," he said.

To this, Watanabe said if private investors come forward, we will finance them. JBIC CEO added that it can help the state in inter-city connectivity, water treatment in urban areas of the state and it can fund Japanese private companies that are interested to invest in these projects.

He added earlier Japanese companies made in Japanese and sold outside. Now, they're thinking of locating their manufacturing in India. 'We will surely help those companies to set up in India,' JBIC said.

The JBIC added that they can do joint operations with banks in India. 'We are in talks with SBI and ICICI,' Mr Watanabe said.

The Chief Minister said that JBIC has a great opportunity in the infrastructure sector in financing airports, ports, etc. The CM explained to JBIC that Singapore is working on a master plan for building the capital city. 'They're comfortable with Japan,' the Chief Minister reassured JBIC.