PM Modi's effort: India sees steady rise in registration of Japanese firms

NEW DELHI: The number of Japanese companies registering in India is growing at a steady pace, according to figures released recently by Tokyo. The countries have a target to double the number of Japanese frims in India by 2019, as announced during PM Modi’s visit to Japan in 2014.

As of October 2015, as many as 1,229 firms were registered in India, a 6% increase from a year earlier. During the same period, the total number of Japanese business establishments in India rose 14% from the year before to 4,417, government sources said.

In 2013, India had 1,038 registered Japanese companies. At the time, the total number of Japanese business establishments in India was 2,503. Among the 1,229 Japanese firms registered in India, Haryana houses the highest at 305, followed by Maharashtra (203), Tamil Nadu (192), Karnataka (190) and Delhi (145).

While Japanese investments have witnessed a steady rise in India over the past decade and a half, Modi’s visit in 2014 gave it a strong push, when the two governments announced plans to double the number of Japanese firms as well as direct investment in India.