India-Japan bilateral trade reached US $ 18.61 billion in 2012-13

The Federation of Andhra Pradesh Chambers of Commerce & Industry (FAPCCI) organized a seminar on “Business Opportunities in Agriculture Sector in Japan” on November 04, 2013 at Federation House, Red Hills, Hyderabad.

Mr Masaki Takaoka, Leader of the Delegation and Deputy Mayor, Miyoshi City, Japan was the chief guest for this occasion. 

Sri Srinivas Ayyadevara, President, FAPCCI, Mr. Katsuaki Hirata Chairman and Director of Hirata Farm, Mr.Rama Bhadra, President, ASA Bhanu Japan Centre, Mr. Tsuyoshi Uesugi Advisor of Miyoshi International Relations Association, Mr. Takayoshi Takehara Deputy Chairman, Miyoshi City Council, Mr. Hiroyuki Kohmura Associate Professor, Faculty of Life and Environmental Science, Hiroshima Prefectural University, Mr. Toshihiro Tominoi Executive Director, Japan Agricultural Cooperative, Mr. Kosho Toyoshima Manager, Industrial Development Department, Miyoshi city, Mr. Yuki Ochi Graduate Student (Special Study of Tomato), Hiroshima Prefectural University, Mr. Tomomi Kano Undergraduate Student (Special Study of Asparagus), Hiroshima Prefectural UniversityMr. Shiv Kumar Rungta, Senior Vice President, Mr. V. Anil Reddy, Vice President, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee and Mrs. P. Vydehi, Secretary (Incharge) was the key speakers. 

Sri Srinivas Ayyadevara, President, FAPCCI explained the investment opportunities in the State of Andhra Pradesh. He said that the Andhra Pradesh is one of the fastest growing economies in India and became one of the hottest investment destinations among the various investment options in the fast growing emerging economies. The State is ranked 2nd in the country in attracting investments. In a World Bank Report, Hyderabad is ranked second easily accessible city in India for doing business.

Mr Masaki Takaoka, Deputy Mayor, Miyoshi City, Japan stated that the India-Japan bilateral trade reached US $ 18.61 billion in 2012-13 as against US $18.43 billion in FY 2011-12. India’s exports to Japan were US $ 6.1 billion and imports from Japan were US$ 12.51 billion. India’s primary exports to Japan have been petroleum products, iron ore, gems and jewelry, marine products, oil meals, ferroalloys, inorganic/organic chemicals, etc. India’s primary imports from Japan have been machinery, transport equipment, iron and steel, electronic goods, organic chemicals, machine tools, etc. Japanese FDI into India reached $2786 million in 2012, showing an increase of 19.8% over the previous year. 

Japan is the largest bilateral donor to India. Japanese Official Development Assistance (ODA) has been supporting India’s efforts for accelerated economic development particularly in the infrastructure sector. Cumulative commitment of ODA till March 2013 reached Yen 3807.763 billion on commitment basis.

Agriculture, forestry, and fishing form the primary sector of industry of the Japanese economy, together with the Japanese mining industry, and they account for 1.3% of gross national product. Miyoshi City is a largest city in Hiroshima Prefecture. Miyoshi is also famous for its wineries, sake (rice wine) and its beer breweries. Both Japan and India especially Andhra Pradesh offer substantial opportunities and we can cooperate each other in the field of agriculture, food-processing, biotech, and other similar sectors, by adopting new/latest technology.