In Japan, Chandrababu Naidu seeks investments, says keen on putting AP on growth trajectory

Hyderabad: Andhra Pradesh Chief Minister N Chandrababu Naidu, who is on a visit to Japan, visited electronics major Panasonic on Tuesday and invited it to invest in the state.

During his interaction, Naidu recalled that he had initiated second generation economic reforms as the Chief Minister of undivided Andhra Pradesh during the 1990s.

He said he is keen on putting AP on the trajectory of growth again, a state government release said.

Observing that there has been some lull in the march towards progress during the last 10 years, he said India is now racing ahead again.

Naidu noted that his party shares power at the Centre and said the key ministries of Civil Aviation and Science and Technology are held by his party.

Asserting that the new Andhra Pradesh faced a crisis (post bifurcation), he said the situation has, however, been turned into an opportunity.

Appreciating that Japan has also overcome several crises, Naidu said his administration is inspired by that.

Naidu highlighted that his administration is a partner in the endeavour of Prime Minister Narendra Modi to make India a developed country, saying he has come to Japan to invite investments.

He said his government is investor-friendly and it is the government's responsibility to resolve any issue.

Andhra Pradesh is endowed with abundant water, fertile lands and is the "gateway of India" to countries in East and West Asia.

A top official of Panasonic said the company would help the AP government in purifying ground water and also skill development.

The company would visit the state and explore opportunities for investments, the release said.

In his response, Naidu invited them to invest in Visakhapatnam, it added.

During another meeting of Naidu, Masahi Hashimoto, chairman of International Business Committee of Osaka Chamber of Commerce and Industry, welcomed the AP delegation.

Hashimoto said Japanese companies are interested in India.

"After the new government and the introduction of new industrial promotion policy, we are keen on India," according to a state government release.

He said Andhra Pradesh is known to them as an "IT state and a centre for higher education."

"We are hopeful that AP will play a very important role in the growth of India," he said.

Addressing the Chief Minister, Hashimoto said the Japanese believe that there should be good amount of information and clarification for companies from the region (to do business in India).

Later, Indian Ambassador to Japan Deepa Gopalan Wadhwa welcomed the Osaka business community and said India and Japan are very close now.

"We are in a strategic relationship, not only politically but also economically. PM Modi's visit to Japan underlines how important Japan is to India," she said.

Prime Minister Shinzo Abe had announced that there will be 35 trillion Japanese Yen investment from both public and private sector in India, she said.

Wadhwa said "in a short time, we have two leaders from India who are the faces of economic reforms - Modi and Naidu.

She stated that Andhra Pradesh is undoubtedly a good investment destination for Japanese companies because a significant number of Japanese firms have a base in the state.

"Companies from Kansai region can start to make a database on AP industry...so that some collaboration will come to fruition," she said.

Following this, the Chief Minister said India is a sleeping giant and that it has every kind of resource.

"I'm impressed with Japan's progress. Despite receiving huge blows due to natural calamities, nuclear explosions, etc, you have progressed to become an economic powerhouse," Naidu said.

Elaborating the advantages of AP for Japanese firms, he said the state is poised to become the gateway of Southeast Asia and Asia because of its 1,000 km-long coastline.

"We can send manufactured goods to countries like Malaysia, Singapore, China etc. We also aim to become logistics hub by developing 14 ports," he said.

The state wants to have a strong infrastructure base, the Chief Minister said.

Making a strong pitch for Japanese firms, Naidu said the state government is considering a 'Japan-Plus Cell' that will clear proposals of Japanese firms online.

This will not only be a single-window clearance, but also a single-desk clearance policy, he said.

Naidu has asked Japanese investors to invest in India with an open mind and put their apprehensions to rest.

On being asked about AP's industrial policy, he said companies will get good incentives.

During a meeting with the Indian IT Forum, the welcome address was given by Sriram V, country manager, Infosys, on behalf of India IT Forum.

At the Forum, Wadhwa said, "I hope the business communities of the new state and Kyoto will bond together to the advantage of both," the release said.

Following address by Mayor of Kyoto Daisaku Kadokawa, the AP Chief Minister said Japan is scouting for marketing and India is scouting for investments.

The state has a strong relationship with the Centre and the economy of the country is showing signs of growth after the new government at the helm, he said.