You are here: Home » Companies » News
Business Standard

Despite economic gloom, JICA would continue to invest in India

Japanese lending agency emphasizes Indian need to improve on its project planning and implementation

Anusha Soni  |  New Delhi 

With an annual investment commitment of Rs 24,000 crore and involvement in 66 projects across sectors, Japanese lending agency JICA re-asserted its commitment to continue to invest in India despite economic gloom and the falling rupee that has deterred most potential investors.

At an Indo-Japan seminar on Monorail, JICA’s senior representative, Ichiguchi Tomohide told Business Standard, “Our commitment and relationship with India is long term and this is the time to support India more.” JICA supported largely by the Japanese government has tripled its commitments since 2000 in transport, water, energy and forestry sector.

But the long term commitment is not without troubles. JICA emphasized the need for Indian to improve on its project planning and implementation. Addressing the seminar Tomohide stated that slow land acquisition, delayed government approvals, unfair risk distribution were the main challenges for India today. He also emphasized the need for improving the performance of contractors and enhance contract enforcement in India.

During a discussion, a senior JICA official also stated that the bureaucratic attitudes are unlikely to change and at the same time government needs to support the JICA more. ‘Sometimes a senior official or the related staff working on the project is abruptly transferred. This hinders the project’s growth and creates troubles for us’ , said a senior official.

JICA funded projects include five metros in Delhi, Mumbai, Kolkata, Bangalore and Chennai along with Western Dedicated Freight Corridor and Chennai-Bangalore Industrial Corridor. With an annual investment commitment of Rs 24,000 crore, India is today JICA’s largest partner.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 03 2013. 17:46 IST
RECOMMENDED FOR YOU
.