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The key challenges for India is to continue grow at 9 to 10% per annum for the next 3-4 decades.
if its continue to grow at this rate then only it will be able to let the vast segment
the population above the poverty line and historically this has been done in the past
by Japan post world war II also done by smaller country like Korea , Singapore and recent
times by china . And when this happens in the next 3 decades India will become a urban
majority country close to 5oo million people will get to the urbanization process. And
when India urbanizes India must industrialize at 15 to 16% per annum year after year after
year. And this is a big challenge because when this happens in the next 3 decades 70%
of India’s age will be below 35 and this is a demography transition which really ever
happens in history. So the challenge for India is to industrialist to urbanize and to consistently
grown over the period. Now India is a very reluctant urbanize it has been a very slow
starter but it has huge advantages if it use technology to leap frog. When cities were
made in America and Europe water and gases were cheaply available and therefore people
lived in one part and they drove 100 kilometers away to the place of work and that is why
cities is America amid the highest amount of CO2 mission .today cities have to be compact,
dense, vertical, sustainable, smart what the Japanese calls a smart cities. so in the next
30 years or in next 3 decades Indians will be creating a completely new India we will
be large working sight in many places and when this happens it’s very important that
India work in partnership with Japan and use Japanese technology to advance and grow . The
Japanese companies each one of them whether you look at Mitsubishi, Hitachi, Toshiba,
Kyocera, sharp, solar future each one of them is technology and outstanding company. They
are must world’s finest companies in terms of technology. But the 2 important things
we must recognize that when rest of the world will be made across America across Europe
across Asia, across Japan everything was being made under the format of EPC contract when
India infrastructure will be made 75% will be under Public Private Partnership concept
and public private partnership is about risk taking. Risk taken by those who are best equipped
to take risk and therefore Japanese companies must take more risks. And Japanese companies
must learn to reduce their bottom lines in Asia countries like India. I’m a great friend
of Japanese companies and I worked very closely with them. I m also a great admirer of Japanese
technology and therefore I strongly feel that’s it’s very important for Japanese countries
to become very major player in India we must see what has happen in the last 2 decades
when I was growing up we were very familiar with Japanese companies . we grow up with
the Japanese products . in the last 2 decades in India ,you must look back and see in Infrastructure
sector 70% of the power equipments coming from China , 80% of the India’s telecom
equipments coming from China and the Korean companies like LG, Hyundai, Samsung the branded
products penetrated the India market. And I say this as the great friend of Japanese
companies that the Japanese technology is must more better, much more durable and non
of the Korean, Chinese even compare with the Japanese companies. And therefore to be able
to manage the bottom line as far cost is concerned it is very important that Japanese companies
can relocate their manufacturing bases to India work in partnership work in joint ventures
with Indian companies .and once manufacturing shift to Indians of Japanese companies then
the cost will automatically fall because japans is become a high cost economy. and the second
key issue is about financial package, which will make funding more efficient and enable
Japanese companies’ to participate comparatively and I’m saying that assess to long term
debt to Japanese companies particularly in rupees form must Japanese companies must be
assisted by METI by Japanese Govt. to provide long term debt lending to aggressively to
bid for projects in India to be able to penetrate in the Indian market. This is very important
because India infrastructure process just begins and India offers a very large domestic
market base. Now Japan is capital and technology abundant, its labors scares and in many ways
it compliments India’s rich spectrum of human capital. India’s strength in its software
sector lends synergy to Japanese excellence in hardware sector. Japans small and medium
enterprises have to discover India as new growth market and several industries in Japan
are in their sunset phase .they must in my mind look skilled labor in India and relocate
to India where they will produce at reasonable cost. I also feel that India and japans must
work together in counter balance in many ways in growing influence of Chinese market penetration
on across Asia and Africa. I m going to be extremely brief and I feels that India’s
infrastructure just begins and beginning with the partnership project Delhi Mumbai industrial
corridor. I think we have to learn a lot from Japan and a great experience of Japan is Delhi
metro project we are the admirers of Japanese technology the metro in many ways has taught
us how to bring in world class technology and bring in program management delivered
great infrastructure projects and within the time schedules. And therefore there is a very
keen desire on the part of Indian Govt. and of the Indians the right thinking Indians
and of India companies to work of the partnerships with the Japanese companies . I think this
potentials must be fully tapped I think we must use this opportunity in the next 30 years
to create great synergy between India and Japan where we create win win for both India
and Japan . Delhi Mumbai industrial corridor will create several new cities. Several new
manufacturing and industrial cities that Japanese infrastructure across sector, solar farms,
smart city, transportations, logistics, where the big revolution will come in the coming
years. The next generation technology will enable India to move into the growth and Japanese
companies to rediscover themselves in India.