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10,000 Japanese companies must be set up in India in the next 5 years: Amitabh Kant, DIPP Secy
India's strategic and economic relations with Japan can be stepped up significantly if the presence of Japanese companies is raised from the present 1000 to 10,000 companies in the next five years, said Amitabh Kant, Secretary, Department of Industrial Policy and Promotion, at FICCI's 'Kyushu-India Investment Seminar'.

To further strengthen and leverage the strategic and economic relations of India and Japan, a Memorandum of Understanding was signed between the Federation of Indian Chambers of Commerce and Industry (FICCI) and Kyushu Economic Federation, Japan (Kyukeiren), in Kant's presence.

At the official level, India is according high importance to its relation with Japan as Prime Minister, Narendra Modi, is set to visit Japan in the coming weeks.

The Government of India is strengthening its efforts on globalization, creating 100 new smart cities, jobs for youth, enhancing transportation and connectivity with high-speed trains.

However the biggest challenge facing the country, Kant said was that how India can make these big developmental strides by leveraging technology. Japan being a perfectionist and a technologically advanced nation becomes a natural partner for India, he added.

Yutaka Aso, Leader of the delegation and Chairman, Kyukeiren, said that the MoU signed between the two organizations will help in creating frequent and fruitful business opportunities. It will give a platform to both the nations for exchanging and sharing views besides intensifying the strategic and global partnerships.

Tamaki Tsukada, Minister (Economic & Development), Embassy of Japan, said that Kyushu is an open and outward looking region of Japan and offers growth opportunities in areas such as environment and energy. Japan looks forward to establish a global manufacturing hub with India. New growth areas such as agriculture and healthcare can be explored for opportunities. He added that recently Japan has also released its basic policies with reforms which are expected to put the country on a transformational growth path.

Onkar S. Kanwar, Past President, FICCI, Chairman, IJBCC and Chairman & Managing Director, Apollo Tyres Limited, suggested that India and Japan should work towards creating a manufacturing hub in the country. He added that participation of Japanese companies in large infrastructure projects along India's industrial corridors and use of Japanese technology in setting up high speed railway network in this country can be some of the areas where the two nations can form partnerships.

A Didar Singh, Secretary General, FICCI and Dr. Arbind Prasad, Director General, FICCI, were also present on the occasion.

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For achieving this and To be efficacious, the Modi Government must implement Economic Reforms seriously. As a first step in this direction, it should abolish all subsidies which are eating into the vitals of the nation's economy and are only benefiting the rich and middle class farmers. It must do away with fertiliser subsidy, food subsidy, kerosene subsidy and in fact, subsidy of all kinds. Everybody must earn and pay for whatever product he wants. It must then abolish and dismantle all public sector undertakings which are only a white elephant on the public exchequer. During the course of my 36 years in Government service, I have found that government servants and the servants of PSUs were very conscious of their rights but hardly conscious of their duties. Everybody thought that everybody else would do the work and the works, except the work related to the Parliamentary matters and other urgent works, remained pending. The PSUs actually work as if they were of the government, for the government and by the government. They have palatial guest houses which were used by the ministers and government officers who came on tour ostensibly for Government work but actually for rest and recreation. Their vehicles are also made to run for the ministers and the Govt. officers for visits to their places of interest so that they could tell their children and grandchildren which tourist places they have visited when they occupied those high offices. Needless to add that breakfast, lunches and dinners etc. were also arranged by the PSUs. They also provided staff to the Central Government departments concerned for doing the work of the department. Result was that the PSUs were soon getting into red and due to rationing, quota and licensing systems and the losses suffered by the PSUs, the economy of the country was ruined by the government of India. By selling the PSUs, the Govt. of India could also reduce its staff dealing with PSUs and save expenditure. Department of Coal, Steel, Mines, Fertilisers, etc. could be abolished. Then there should be no license permit quota Inspector Raj and let the Private sector compete with each other in the case of mining, etc. The Land Acquisition Law needs to done away with and let market forces guide the cost of the land to be purchased by industrialists. All the subsidies should be withdrawn and everything should be guided by market forces. If the Economic Reforms are truly implemented then the Government could go in for building rural infrastructure which is so necessary for implementing healthcare and education by investing the money got from the sale of PSUs and money saved on expenditure on Govt. staff dealing with PSUs which would no longer be required.
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