Haryana is expecting a spike in foreign investments from Japan after Chief Minister Manohar lal Khattar’s trip to woo investors here during which firms, including Honda, Mizuho Bank and Shiroki Corporation, expressed interest to invest in various sectors.
Khattar, who had individual meetings with various Japanese industry leaders besides addressing group gatherings, highlighted the state’s investor friendly policies on ease of doing business.
According to a State Government statement, Khattar said when his Government came to power, there were over 1,000 pending applications for consent to operate, with an average pendency of about 13 months. “Today, only 45 applications with pendency of 40 days are pending. There is no shortage of industrial water in south Haryana, thanks to the major recycling plans,” he added. Khattar, who is leading an official-cum-business delegation to Japan and China to woo foreign investment, also promised a hassle-free ride and active and involved support from his Government to prospective entrepreneurs and investors in the state.
“We have also set up a Japanese Hostel in Gurgaon to provide home-like environment for the Japanese visiting India,” he added. Haryana is home to many companies from Japan which presently accounts for one-third of the total foreign investment in the state.
He was supported by Osamu Suzuki, Chairman and Chief Executive Officer of Suzuki Motor Corporation (SMC), who asked Japanese entrepreneurs to not only invest in the state but also take local vendors along. SMC’s Indian arm Maruti Suzuki India is one of the most successful examples of Japanese investment in Haryana.
Maruti has two manufacturing plants in the state and is the biggest car-maker in India. Khattar said Japan International Cooperation Agency (JICA) is weighing a soft loan of over Rs1,000 crore to the Haryana Investment Promotion Programme. Besides, Honda Motorcycle and Scooter India has evinced keen interest in setting up a driving school and an R&D centre in Haryana and adopt an IIT to administer skill development training, the statement said.