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Tuesday, September 22nd, 2020

Japan is India’s biggest development partner and India is the biggest recipeient of Japans Overseas Development aid : Anand Sharma

Anand SharmaINVC, Delhi, India today extended a package of incentives to Japan in order to encourage Investment in Electronic System Design and Manufacturing (ESDM) in the country. In a meeting with Mr. Hiromasa Yonekura, Chairman, Keidanren (Japan Business Federation) along with the top Japanese Business representatives in India, here today, the Union Minister of Commerce and Industry Shri Anand Sharma said, “Government of India has decided to offer a package of incentives to attract domestic and global investments into ESDM sector within Electronic Manufacturing Clusters (EMC) Schemes. In addition, the Government has recently approved the proposal for setting up of two Semi-conductor Wafer Fabrications (FAB) manufacturing facilities in the country.” Shri Sharma invited all Semi Conductor Wafer Fabrication (FAB) manufacturers in Japan to avail subsidy/other benefits/support being offered by Government of India for establishing FAB facilities in India.

The Indian Minister conveyed that Information Technology Agreement (ITA) (now also known as ITA-1), a plurilateral agreement of WTO has not benefitted India as far as manufacturing in the domestic hardware industry is concerned. it has led to sharp decline in investments in manufacturing of components, raw materials, parts and even electronic sub-assemblies, loss of investment in high value added manufacturing ,decline in the share of domestically manufactured electronic components .In light of this many measures have been taken by the Government to build a sound manufacturing environment in the field of Electronics and Information Technology and Japanese companies can benefit from them.

Shri Sharma also stressed strengthening of cooperation in creative industries, which ranges from design, apparel, fashion, food, house-hold goods, music, movies, animation and traditional craft would further promote and deepen mutual understanding of the two countries. Shri Sharma and METI Minister Mr Edano met on 30th April 2012 in New Delhi and reached the common recognition that enhancing bilateral cooperation in the area of Creative Industries will be regarded as an important new pillar of Japan and India industry cooperation. Secretary DIPP Shri Saurabh Chandra met his counterpart in May 2013 and December 2013 to take the process forward. Six MOUs between Japanese companies and Indian companies in areas such as traditional/regional products, animation, apparel/fashion, lifestyle/luxury products and food were signed in recent past. National Institute of design (NID), Ahmadabad is taking lead in implementing the tasks assigned to them as regards to cooperation on Creative Industry.

Shri Sharma also told Mr Yonekura about the progress in DMIC where Japan is the main partner. Shri Sharma said that Japan is India’s biggest development partner and India is the biggest recipeient of Japans Overseas Development aid. DMIC CEO Shri Amitabh Kant briefed the delegation . DG CII Shri Chandrajit Banerjee asked for Japan’s cooperation in developing Manufacturing cuture. He also called for a collaborative framework to realize the full potential of India Japan CEPA.

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