GREETINGS FROM JCCII PRESIDENT
Warm greetings from Japan Chamber of Commerce and Industry in India (JCCII). I am Setsuya Yoshino, Chairman & Managing Director of Mitsubishi Corporation India. I am honored to have been appointed as the President of the JCCII for the fiscal year 2025. Since my arrival in India in March 2024, I have been deeply impressed by the country’s charm and growth potential. With this new responsibility, I feel a renewed sense of commitment and determination. I look forward to working closely with the Embassy of Japan, fellow Chamber members, and all stakeholders to support the development of Japanese companies and to further strengthen Japan-India relations over the coming year.
Looking back on the past year, India held its general elections for the lower house. While BJP, led by Prime Minister Modi, secured a third term through a coalition, there were initial concerns about the stability of a coalition government. However, the ruling alliance went on to exceed expectations in subsequent state elections and has now secured a majority in both the upper and lower houses of Parliament. Political stability is a crucial factor for a favorable business environment, and I believe this provides a solid foundation for further Japanese investments in India.
In terms of Japan–India relations, we continue to see positive momentum across political, economic, and various other domains. FY2024, followed by FY2023, was designated as the “Japan-India Tourism Exchange Year”, and the number of Indian visitors to Japan reached a record 233,000 in 2024, up from 166,000 in 2023. As more Indian people show interest in Japan, we expect even deeper people-to-people exchanges, to serve as a foundation for further strengthening bilateral ties through talent-driven engagement.
According to annual JBIC survey on overseas business development prospects of Japanese manufacturers, India has been ranked the most promising destination for medium-to-long-term investment for three consecutive years, with its vote share increasing year by year. Many Japanese companies view India’s market scale and future growth potential as key attractions, and this has been reflected in the rising volume of direct investments from Japan. However, there are still challenges that concern many businesses, including a lack of transparency in legal systems, complex tax structures, and underdeveloped infrastructure. These structural issues cannot be resolved easily in the short term and require ongoing dialogue with the Indian government with a long-term perspective.
Considering these circumstances, the JCCII will continue to focus not only on improving the business environment for Japanese companies but also on promoting information exchange and camaraderie among members, enhancing economic activities and trust between Japan and India, and implementing initiatives that serve common interest. To do so, we will strengthen our “Five Pillars of Activity”:
1. Monthly Sanmoku-Kai meetings for members
2. Divisions and Committees activities
3. Business Environment Enhancement Proposals
4. Enhancing our newsletter and website
5. Expanding JCCII membership
Additionally, from this fiscal year, companies not yet operating in India can also join the JCCII. In response, we will place particular emphasis on two areas:
• Supporting the entry of Japanese SMEs into the Indian market
• Business Environment Enhancement Proposals to facilitate such entry
These efforts will be carried out in close cooperation with the Embassy of Japan and other relevant government bodies.
2025 is expected to remain uncertain globally, such as ongoing conflicts in various regions and tariff increases under the second Trump administration. In such an environment, companies will face increasingly complex challenges. Nevertheless, I firmly believe in India’s unwavering potential and growth prospects. Through JCCII’s activities, we aim to contribute to increase the number of Japanese companies entering India and support the further development of those already established here. Ultimately, we hope these efforts will benefit Indian society and lead to even stronger Japan-India relations.
I sincerely ask for your continued support and cooperation throughout the year.
April 2025
Setsuya Yoshino
President
Japanese Chamber of Commerce and Industry in India