More Japanese companies are evincing interest in Andhra Pradesh. In the last three years from 2008, the number of Japanese companies that had invested in the state increased to 70 from just 12 in 2008, said Masanori Nakano, consul general of Japan, Chennai.
“India is a key market for us, and we are looking for more investments in the state,” he said here at a Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) seminar.
There is an upper trend in investments to the state, and it would continue to rise in future. The Indo-Japan trade relationship is going to enter its 60th year next year and the Prime Minister of Japan was likely to visit the country, he said.
India will be a key country for Japan in politics and economy, and across other segments including technology, automobiles, hydrocarbon, ICT, biotechnology, pharma and IT. Economically, the southern part of India has increased in strength, he said adding, investments in Tamil Nadu was much larger than AP. TN has seen 245 companies by October this year, from 77 companies in 2008.
“Andhra Pradesh has a lot of potential to attract investments. The state government is upgrading its and creating platform for more investments,” Fapcci secretary general MV Rajeswar Rao said.
In AP, the IIT-Hyderabad was established with Japan’s cooperation. Besides, the outer ring road, Nagarjuna Sagar and the Srisailam hydro power plant were built with Indo-Japan joint ventures.