India – Japan Business Leaders Forum

There is a high degree of complimentarity between the economies of India and Japan, like the demographic structure of India and the increasingly aging population of Japan.

The Japanese economy is characterized by production structure that is highly capital-intensive and India’s production structure is dominated by the labour- intensive activities.  The export structure of the two countries also shows a good degree of complimentarity, Japan has core-competency in hi-tech and industrial goods, whereas India is increasingly becoming a manufactured goods exporter, besides the fact that India has comparative advantage in agricultural goods.

Bilateral trade between India and Japan increased by 34% in 2012 -13 $ to 18.5 Billion compared to $13.7 Billion in 2011 -12. The two countries had set a target of doubling bilateral trade to $ 25 billion by 2014.  Besides trade India and Japan have great potential to develop strategic economic partnerships into an alliance based on mutual complementarities and geopolitical significance.

Coinciding with the visit of the Prime Minister of India Dr Manmohan Singh to Japan on 29 May 2013, the 4^th meeting of the India – Japan Business Leaders Forum will discuss:

• Japan-India CEPA and regional economic alliances;
• improving the business environment and market access;
• Infrastructure Development in India and Promotion of Japan-India Cooperation, with a key focus on the DMIC project and the Chennai Bengaluru Industrial Corridor;
• Strengthening Indian and Japanese Cooperation in Strategic Areas like energy ( including nuclear), automobiles, machinery, chemical industry, cutting-edge technologies in areas such as electronic hardware, telecommunication equipment, heavy industries, rail transport management systems, as well as technological exchanges in agriculture and environmental management
• development of high-caliber human resources as a form of “soft infrastructure” for promoting joint projects in strategic fields; cooperation to promote skills enhancement through initiatives like training and certification, bilateral student exchanges, and corporate internships
• Cooperation in the Asia-Pacific Region.

A Joint Statement will be presented to Prime Minister Singh and Prime Minister Abe after the meeting by the members of the Forum from both Indian and Japanese side at KANTEI ( Japanese Prime Minister’s residence).

Some achievements of the Forum have been – Permission for Japanese Mega banks to open their branch offices at city centers; Relaxation of regulations to JBIC providing for Swap Status for JBIC and its Non-Resident Co-financiers for DMIC project.;  Subscription of Social Security Agreement and Launch of an India-Japan US $ 4.5 billion DMIC facility, equity participation and provision for inclusion of board members from the Japanese government to the DMICDC

Mr Baba Kalayani , Indian Co– chair  of the Forum will be accompanied by senior business leaders including Mr S Gopalakrishnan, President CII & Executive Co – Chairman, Infosys Technologies; Mr Chandrajit Banerjee, DG – CII, Mr Vikram Kirloskar, Vice Chairman, Toyota Kirloskar Motor; Mr Amitabh Kant, MD & CEO, DMICDC; Mr Sunil Kumar Srivastava, CMD, Oil India and Dr Surinder Kapur, Chairman, Sona Koyo.

Returning Indians

Recession and uncertainties in the regions with large concentration of Indian diaspora population and emerging opportunities in India together have created a situation where many Overseas Indians are contemplating returning to India.

The decision to move to India may be an emotional one inspired by the need to return to one’s roots or a rational one, determined by career opportunities. In both circumstances, it is absolutely essential to be completely aware of the facets of the new environment that one is moving to.

Returning Indians are sometimes intimidated by their new surroundings and require credible support for their basic queries such as what they can bring back to India; pension and social security concerns; taxation matters; what bank accounts they can operate and more.

Increasingly, Indians abroad see the move to India, at this point in time, as a way to have the best of both worlds. With rapid growth and development, the basic amenities that they are used to in overseas like access to world-class healthcare, international schools, availability of global brands, high quality housing are now available in India. Work experience in India is valued, as having relevant exposure in a growing and developing country adds weightage to your resume. Adding to this, the proximity you can have with your family, relatives and friends are winning propositions.

In recent years, however, an interesting trend has emerged. The oft-heralded term of “brain-drain”, used to describe talented Indians migrating overseas has seen a balancing force in many overseas Indians opting to return home. India’s growth story, booming opportunities along with focused liberalization measures adopted by the Government have resulted in a large number of foreign corporates setting up operations in India.

To ease the process of returning back to India, the Overseas Indian Facilitation Centre, a focal point for expanding the Indian diaspora’s economic engagement, jointly with Deloitte Touche Tohmatsu India Pvt Ltd, have compiled a publication ‘Returning Indians- All that you need to know’.

Download the Report on ‘Returning Indians – All that you need to know’ 

Innovating for the Farmer

In March 2012, then President Pratibha Patil presented the Sixth National Grassroots Innovation Awards to 47 innovators of India.

One of the winners, Gurmail Singh Dhonsi’s ‘Rapid Compost Aerator’ and ‘Tractor Mounted Tree Pruner’, innovations that fetched him the national recognition, are prime examples of what drives Dhonsi. The compost aerator, in fact, was a follow up of the tree pruner. It was a remark by Surender Kumar Jakhad of Maujgarh, a Punjab village bordering Rajasthan, that set him thinking. Says Dhonsi, “Jakhad said why don’t I make a machine for him that could use all the leaves and fruits wasted in pruning?”

It was Jakhad, again, who inspired Dhonsi to develop his award winning tree pruner. A tractor mounted device, the pruner draws upon the tractor’s hydraulic system to power its motor and operate the blades. The beauty of the simple device is that it can be mounted on any tractor of 40 hp and above. It can prune trees of up to 20 ft height; in about one hour it can prune and dress 200 trees consuming just 3.5 litres of fuel. The tree pruner is a cost, time and fuel-efficient innovation that can revolutionise farm production in orchards and horticulture gardens. NIF has filed a patent for the pruner which is priced at US$ 8550.

This 53-year-old inveterate innovator is not ready to hang up his boots yet. He is currently in the process of perfecting a ridge-maker. There are other machines on his agenda—all of them inspired by the grassroots problems of farmers and aimed at easing their workload. He wishes to produce these on a large scale for economy of scale benefits and hopes for subsidies on raw material for himself and for farmers on finished goods. “If farmers get subsidy, it will be good,” he says. Given Dhonsi’s sincere pursuits, more inventions are sure to come out of his ‘workshop’.

 

Click here to read the views of Gurmail Singh Dhonsi, winner of the National First Award at the Sixth National Grassroots Innovation Awards