Haryana CM woos Japanese investors, expects more FDI inflow

Haryana is expecting a spike in foreign investments from Japan after Chief Minister Manohar Lal Khattar's trip to woo investors here during which firms, including Honda, Mizuho Bank and Shiroki Corporation, expressed interest to invest in various sectors.
Khattar, who had individual meetings with various Japanese industry leaders besides addressing group gatherings, highlighted the state's investor friendly policies on ease of doing business.
According to a state government statement, Khattar said when his government came to power, there were over 1,000 pending applications for consent to operate, with an average pendency of about 13 months.
"Today, only 45 applications with pendency of 40 days are pending. There is no shortage of industrial water in south Haryana, thanks to the major recycling plans," he added.

Khattar, who is leading an official-cum-business delegation to Japan and China to woo foreign investment, also promised a hassle-free ride and active and involved support from his government to prospective entrepreneurs and investors in the state.
"We have also set up a Japanese Hostel in Gurgaon to provide home-like environment for the Japanese visiting India," he added.

Haryana is home to many companies from Japan -- which presently accounts for one-third of the total foreign investment in the state.
The chief minister was supported by Osamu Suzuki, Chairman and Chief Executive Officer of Suzuki Motor Corporation (SMC), who asked Japanese entrepreneurs to not only invest in the state but also take local vendors along.

SMC's Indian arm Maruti Suzuki India is one of the most successful examples of Japanese investment in Haryana.
Maruti has two manufacturing plants in the state and is the biggest car maker in India.
Khattar said Japan International Cooperation Agency (JICA) is weighing a soft loan of over Rs 1,000 crore to the Haryana Investment Promotion Programme.
Besides, Honda Motorcycle and Scooter India has evinced keen interest in setting up a driving school and an R&D centre in Haryana and adopt an IIT to administer skill development training, the statement said.
Similarly, Mizuho Bank Limited, one of the largest banks in Japan, has inked an MoU with the state government to promote industrial and infrastructure development, generate employment opportunities, and attract FDI in Haryana, it added.

Shiroki Corporation has also committed to invest more than
Rs 150 crore in its Bawal Plant in Haryana in the next two years, while Daiwa House Industry Company, one of the largest homebuilders in Japan, is considering Gurgaon and Jhajjar as potential locations for setting up its project, the statement said.
Likewise, Hitachi Zosen Corporation has expressed interest in participating in Haryana's efforts to set up waste-to-energy plants.
In academics, Maharshi Dayanand University, Rohtak, and Soka University, Tokyo, have agreed to enter into a Memorandum of Understanding to give value added education a push by exchanging research, scholars and students.

"This will be the first step towards mutual co-operation between Haryana and Soka University," it added.
Flow of Japanese investment to Haryana started with the entry of Suzuki in the 1980s which created an entire ecosystem of auto ancillaries in Faridabad and Gurgaon.
Today, many Japanese firms such as Panasonic, Aisin, Mitsubishi, Yokohama, Yakult, Musashi, Mitsui, Asahi, YKK, Stanley, Denso, Asti, Kansai, NHK, NTN, Daikin, Showa, Sanden, and Koyo have presence in the state, the statement said.
"(It) is a testimony to our progressive industrial policies and the sound infrastructure facilities available to the industrial entrepreneurs," it added.