Kolkata, July 11: Though West Bengal can currently boast of seven Japanese projects in operation, the growth of Japanese investments in the state is rapidly declining. This is partly due to the weak Japanese economy and the structural reforms in Japan, streamlining or rationalising of overseas operations, and also partly due to the business climate in the state. “In fact, this is now becoming a general trend throughout India,” said consul general of Japan Kenji Shimizu at a meeting with members of Bengal National Chamber of Commerce & Industry (BCCI) held here yesterday.

Shimizu, however, maintained that two-third of the odd 200 Japanese firms operating in India plan to go for an expansion drive if there is improvement in the operating environment. Shimizu acknowledged West Bengal government’s positive steps towards wooing foreign investments in the state.
“Sectors like IT, electronics, food processing, infrastructure, leather and knowledge-based industries have been accorded the top-priority by the state government. The state also has an array of advantages like its strategic location which acts as a gateway not only for the eastern India but the whole region.... Japanese investment may increase in the state in light of these advantages,” he added. Bureau Report