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Naidu hard-sells AP in Japan
Despite the efforts by Prime Minister Narendra Modi to make India an investor-friendly destination, venture capitalists abroad appear to be nursing several fears particularly about the red-tapism that exists in the country.
- Japanese companies express concern over redtapism
- Naidu promises all clearances within a week’s time
- Port-rich AP gives advantage to access Asian markets
- Makes several promises to help them set shop in the State
Hyderabad: Despite the efforts by Prime Minister Narendra Modi to make India an investor-friendly destination, venture capitalists abroad appear to be nursing several fears particularly about the red-tapism that exists in the country. Andhra Pradesh Chief Minister N Chandrababu Naidu, who is on a 4-day visit to the Land of Rising Sun, on Monday had to face a barrage of questions on this issue.
Shihenobu Nagamori, chairman of NIDEC, informed Naidu that the investors in Japan feel that it was difficult to do business with India because of red-tapism. The Chief Minister explained that India has changed now with the new government. India would become even better in the years to come. Naidu promised several sops to the Japanese investors and urged them to set up their plants in Andhra Pradesh.
The Chief Minister assured Nagamori of NIDEC that if they want to start a manufacturing unit in AP, they would get all clearances in a week’s time. “On the 8th day, you can start your process,” he said. Andhra Pradesh, which has become a favourite destination for investments, has skilled workforce that would be of great advantage to investors. He explained about the strong and harmonious relationship between the Centre and the State. Nagamori informed the Chief Minister that they have plans to make Andhra Pradesh their export base once they start their operations in India.
Naidu also met Naoki Kobayashi, Managing Director and General Manager for Agriculture Machinery and Equipment Business, Yanmar. Naoki gave a presentation on how to increase the yield of rice per acre, land preparation, nursery and planting, crop management and harvesting. These techniques, if used effectively, would give 50 per cent more profit to the farmers, he said.
Yanmar has recently tied-up with Tamil Nadu-based Murugappa Group.
The Chief Minister extended an invitation to Yanmar to explore opportunities in AP and help the state in making agriculture profitable and sustainable. He explained about the state government’s collaboration with ICRISAT in soil testing and other practices to make farming a profitable vocation. Port-rich Andhra Pradesh would give manufacturers the advantage of accessibility to all the markets in Asia. “Our single-window clearance, rapid approvals and 24X7 power supply are the attractive points,” Naidu said.
