Wednesday, August 15, 2012

India & Japan Bilateral Trade worth $25 billion by 2014”

The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with AP AOTS Alumni Society & the Overseas Human Resources and Industry Development Association (HIDA) Organized an Interactive Meeting on INDIA & JAPAN EXTERNAL TRADE & BILETERAL TRADE RELATIONS” on August 11, 2012 at Federation House, Red Hills, Hyderabad. Mr. Satoru Mitani, HIDA-AOTS Rep. in South Asia & Deputy Director, Japan External Trade Organization was the Chief Guest for this session and Mr. Kawano, Deputy Director, Japan External Trade Organization, Ms. Furuya, Deputy Director, Japan External Trade Organization Mr. Devendra Surana, President, FAPCCI was the key speakers. Mr. Ravindra Kallur, President, AOTS Alumni Society, A.P. Chapter, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI, Mr. V.S. Raju, Pasr President, FAPCCI was the other speakers.

Mr. Devendra Surana, President, FAPCCI said in his welcome address is that the dynamic growth of this relationship is reflected in the number of high level Ministerial and Parliamentary exchanges that have been taking place at regular intervals. There is a parallel process of business and industry in both countries taking note of the opportunities that recent economic developments in India have created for them. That has led to a very sharp increase in exchange of business delegations.

Mr. Satoru Mitani, HIDA-AOTS Rep. in South Asia & Deputy Director, Japan External Trade Organization said that Japan is an invaluable and strategic partner in the process of India’s development. India and Japan are playing a major role in the globally changing economic landscape.  During 2010-11, the two-way trade stood at about $13 billion.  The trade between the two countries is expanding rapidly and is expected to achieve the trade target of $25 billion by 2014. Japanese especially Small and Medium Enterprises (SMEs) are looking for potential buyers for their products and partners for technological collaboration, including licensing of their technology in the sectors of automotive, agro machinery, pharmaceuticals, foundry, construction, etc.

JETRO is a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO's core focus in the 21st century has shifted toward promoting foreign direct investment into Japan and helping small to medium size Japanese firms maximize their global export potential.  In India, it has Offices in Bangalore, Chennai, Mumbai and New Delhi. Earlier, Jetro has also brought a delegation of around a dozen Japanese automotive component firms to explore business potential in the country Mr. Satoru Mitani said.

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