India News | MP Transforming to Be More Investor Friendly with Ease of Doing Business: Japan's Consul-General
Get latest articles and stories on India at LatestLY. Madhya Pradesh is transforming itself into a more investor-friendly state with the introduction of a new industrial promotion policy and the focus on ease of doing business, Japan's Consul-General in Mumbai Yagi Koji said on Monday.
Bhopal, Feb 24 (PTI) Madhya Pradesh is transforming itself into a more investor-friendly state with the introduction of a new industrial promotion policy and the focus on ease of doing business, Japan's Consul-General in Mumbai Yagi Koji said on Monday.
Addressing the Madhya Pradesh Global Investors Summit (MP GIS) 2025 here, he expressed hope that the new initiatives will contribute towards ease of doing business for Japanese investors in the state.
"Our two leaders, Prime Minister Shigeru Ishiba and Prime Minister Narendra Modi met in Laos and confirmed that they would advance our cooperation and ... It is no doubt that our strong economic relations are the backbone of that partnership. As India strives to realise Viksit Bharat 2047, Japan's knowledge, technology and investment will be of great use to this country," Koji said.
He shared that Japanese direct investment in India jumped 284 per cent over the last 10 years, from 282 billion Yen to 1,082 billion Yen. The 5 trillion Yen target of public and private investment and financing into India in the next five years as concurred by the leaders in 2022 is also on the right track.
"As such, there has been a significant increase in Japan's interest in India. According to Japan Bank for International Cooperation survey report on promising investment destinations, India has ranked as the top investment destination for three consecutive years in FY 2022, FY 2023 and FY 2024," the Japanese Consul-General said.
Highlighting that 60 per cent of Japanese investments in India were in the manufacturing sector, he exuded confidence that this trend shall continue in the years to come.
"Madhya Pradesh is making strides in infrastructure development such as Delhi-Nagpur Industrial Corridor ... The state has also introduced new industrial promotion policy and focuses on the ease of doing business by simplifying procedures, offering a single-window clearance system, reducing bureaucratic hurdles and implementing online portals for approvals and permits. Madhya Pradesh is now transforming itself to be a more investor-friendly state," Koji said.
"I commend these new initiatives and do hope they contribute to ease of doing business for Japanese in Madhya Pradesh," he added. PTI RSN
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)