India has been ranked as the most preferred destination for future investments by Japanese manufacturing companies in a survey conducted by the Japan Bank for International Cooperation (JBIC).

Indonesia and China have been ranked second and third, respectively in the survey, according to a release issued by the Commerce Ministry.

JBIC conducted a survey of 1,000 companies from Japanese manufacturing sector in July 2014.

In October 2014, the number of Japanese companies in India touched 1,209, which was 13 per cent higher over the same period last year.

Some Japanese companies are contemplating their future investment plans in India amounting to about Rs 75,000 crore ($12 billion) in next 2-3 years, the release added.

During June-September 2014, FDI inflows from Japan amounted to $618 million against $273 million in the corresponding period in 2013. FDI inflow of $103.14 million took place in October 2014.

Japan Plus

The Government has set up Japan Plus, a special management team, to facilitate Japanese investors. The team’s objective is to help Japanese companies negotiate various approval processes, as and when required.

One of the mandates of Japan Plus is to help develop Japanese Integrated Industrial Parks. Discussions are on between Japanese companies and the respective State Governments for such parks.

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