Japanese investments in India set to grow manifold: JBIC chief

With the formation of a stable government at the Centre, investments by Japanese firms in the country are set to rise manifold, Japan Bank for International Cooperation (JBIC) Governor Hiroshi Watanabe has said.
This is evident from the findings of the survey of Japanese corporations to be released soon, he said, hinting that India has moved up the ladder.
"I think from now on, Japanese companies' investments into India is going to rise," he told reporters on the sidelines of the Asian Exim Banks forum held in Jopdhpur earlier this week.
Watanabe, however, declined to give any projection over the quantum of Japanese investments which will be flowing into the country.

He said JBIC undertakes a survey of Japanese companies, especially those engaged in the manufacturing sector, about where they want to put their money over a medium and long-term horizon.
"In the new survey, I think India's ranking is getting higher even for the short-term of two to three years," he said, adding that the country has been occupying the top position on the long-term investment perspective for some time now.
The comments from the head of JBIC, which has supported a slew of infrastructure development projects in the country, including the Delhi-Mumbai Industrial Corridor, come within days of Japanese telecom giant Softbank announcing an investment of USD 10 billion in the country.

As for JBIC's play in the country, Watanabe said its total outstanding stands at JPY 174 billion at present and it has committed JPY 90 billion more for the country since April 2013 alone.