GREETINGS FROM JCCII PRESIDENT
April 2024
Warm greetings from Japan Chamber of Commerce and Industry in India (JCCII). My name is Yoshiyuki Enomoto, Chairperson of Mitsui & Co. India Pvt Ltd. I have been honored with the position of President of JCCII for the fiscal year 2024.
Having recently arrived in India on the 1st day of this April, I embarked on my inaugural assignment as a resident representative. While previously engaging in various forms of India-related business such as business trips and business management, I am eagerly anticipating the opportunity to be directly involved in India’s business at the forefront.
India surpassed China in population last year, becoming the world’s most populous country. Amidst the slowdown in global economic growth, India has maintained a robust economic growth with a GDP growth rate in the 7% range, and it is anticipated to eventually surpass Japan to become the world’s third-largest economy. The B20 business summit held in India last August became a major event with approximately 1,700 participants from 55 countries. Assuming the presidency of the G20 Summit held in September 2023, India established its position as a leader in the Global South. There is no doubt that India’s presence in the world is growing stronger. For Japanese companies, the importance of India is likely to continue to increase.
According to a survey conducted by JETRO, over 70% of Japanese companies in India have expressed intentions of their business expansion, ranking India first among all the surveyed countries worldwide. Additionally, in recent years, a significant number of Japanese companies have visited India for surveys, indicating substantial expectations from Japanese companies for business potentials in India. The convergence of India’s “Make in India” initiative for job creation and Japan’s awareness of geopolitical risks suggests a continued alignment of interests between the two nations.
On the political front, the governments of Japan and India maintain exceptionally friendly relations. At the 2022 summit, Japan’s Prime Minister Kishida announced Japan’s commitment to JPY 5 trillion in public-private investment and financing over the five years. Japan’s full support to India as the chair country of G20 significantly contributed to its success. In September-October this year, a series of events named “Japan Month” will take place, led by the Embassy of Japan, aiming to further deepen the Japan-India relationship by spotlighting trade, investment and exchanges.
The positive Japan-India relations are largely attributed to the dedicated efforts of the Japanese government, including the Japanese Embassy, and stakeholders from Japanese companies. In order to contribute to the further development of Japan-India relations and support the growth and development of Japanese companies, I would like to make efforts to the best of my ability.
Regarding the JCCII’s activity plan for the fiscal year 2024, we continue to pursue the five key pillars with a strong emphasis on “Business Environment Enhancement”. With support by the Embassy of Japan and JETRO, initiatives such as the Fast Track Mechanism facilitate dialogue with the Indian government, driving gradual progress towards improvement. Furthermore, we aim to meet the expectation of JCCII members to the full extent possible through “enhancement of the monthly meeting Sanmoku-kai”, “expansion of Committee and Division meetings”, and “improvement of our newsletters and website”, ultimately leading to increase in number of JCCII members that growth of organization. We deeply appreciate your active involvement and welcome any requests or feedback to further enhance JCCII activities.
In conclusion, as the President of JCCII, I am committed to collaborating with all stakeholders including JCCII members, Embassy of Japan and Japanese government-related, to support the growth and success of Japanese companies operating or seeking to expand in India. Your unwavering support would be sincerely appreciated.
Yoshiyuki ENOMOTO
President
Japan Chamber of Commerce and Industry in India