COMMENTARY
INTERVIEW
SPECIALS
CHAT
ARCHIVES

Japanese plan to invest in tourism

Sandesh Prabhudesai in Panaji

Japanese companies are planning to invest in the tourism sector in India. But the Japanese still want to see which way the tussle between Suzuki and the government goes over Maruti Udyog Limited.

Toru Toyoshima, chairman of the Japan External Trade Organisation, who was in Goa for a two-day Asian Trade Promotion meet, said he expected India to take another positive step on the exit policy, permitting companies to pull out from loss-making ventures.

A trade mission from Japan is scheduled to visit India shortly to explore its investment avenues in the tourism sector as well as in building infrastructure and providing technical support.

Expressing hope that the Maruti-Suzuki controversy would be resolved amicably, Toyoshima also told Rediff On The NeT that Toyota has entered into an agreement with an Indian firm for setting up a unit in Karnataka. The site has already been selected, he said.

Though Japan had not reduced import of iron ore from Goa, price differences had forced it to begin looking at Australia and Brazil, he said. This did not mean Japan would be expanding its steel industry since cheaper steel is available in other markets like China, he added.

Australia too has expressed interest in investing in Indian mines. "But the mines here are still State-owned ventures while procedural problems are not done away with," Roger John Bayliss, who led the Australian team, said.