Shri Narendra Modi, Hon’ble Prime Minister of India, and Shri Shinzo Abe, Hon’ble Prime Minister of Japan, announced the India–Japan Investment Promotion Partnership at Tokyo, on 1 September 2014. Under this Partnership, Japan has offered to invest 3.5 trillion Yen (US $ 33.5 Billion) in India by way of public and private investment and financing over the next five years.
The Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, Government of India, has set up “Japan Plus”, a special management team to facilitate and fast track investment proposals from Japan to achieve this goal. Japan Plus is operational from 8th October, 2014.
“Japan Plus”, comprises four representatives from Government of India and three representatives from Government of Japan. Of these Japanese Government have nominated one from METI (Ministry of Economy, Trade and Industry), one from JETRO (Japan External Trade Organization) and one from Aichi Prefecture. The Aichi desk would be operational w.e.f. January, 2016.
Role of Japan Plus
- Supports Government of India in initiating, attracting, facilitating, fast tracking and handholding Japanese investments across sectors.
- Provide updated information on investment opportunities across sectors, in specific projects and Japan Industrial Townships in particular.
- Japan Plus is in constant touch with existing Japanese companies in India to highlight their concerns to the relevant Government Department/Ministries for an early resolution. All the issues showcased till date have been acknowledged, aligned with the concerned Government Department (Centre or State) and resolved. On an average Japan Plus assists 20 Japanese companies per month.
- Japan Plus is the Nodal cell in the Government of India to co-ordinate & collate investment proposals being pursued by all Ministries/Departments / State Governments.
- Assistance to Core-Group: A Core-group has been set up under the chairmanship of Cabinet Secretary with Secretaries of 17 Ministries/Departments to realize 3.5 trillion Yen.
- Railway Board; Ministry of External Affairs; Dept of Economic Affairs, Dept of Expenditure, Dept of Financial Services; Dept of Revenue; Ministry of Medium, Small & Micro Industries; Department of Commerce; Ministry of Urban Affairs; Ministry of Textiles; Dept of Defence Production; Dept of Electronics & Information Technology; M/O Food Processing; D/O Heavy Industries; D/O science and technology; D/O Industry Policy and Promotion, NMCC.
- Japan Plus provide assistance to Core-Group to ensure that investments from Japan as envisaged in India–Japan Investment Promotion Partnership are facilitated in various sectors and opportunities of investment and technology transfer are fully exploited. O.M. issued by Deptt. dated 24.09.2014)
- An institutional mechanism has been set up for resolution of issues faced by Japanese Companies working in India. This is facilitated by JCCII (Japan Chamber of Commerce & Industry in India) in consultation with DIPP. Japan Plus provides assistance for this.