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90% of Japanese manufacturers plan to expand business in India
By agencies
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Wednesday, 06 April 2005, 19:30 IST
NEW DELHI:A survey has found 90.5 percent of Japanese manufacturers in India plan to expand their operations on fast economic growth and improvements in the investment climate, the Japan External Trade Organization (JETRO) said.
The percentage in the annual survey conducted in February was 3.9 points higher than a year earlier, said the semi-governmental entity. Those planning to maintain the present operations captured 6.3 percent, down 7.1 points, it said.
The survey covered 100 firms including 65 that gave valid responses. Of the respondents, 75.4 percent posted operating profit in 2004 and 67.2 percent expected to increase operating profit in 2005.
As the Indian economy has grown rapidly on the development of the information technology industry, a JETRO official said, "Japanese firms place great hopes on a rising number of middle-income workers who buy consumer electronics and cars."
Japanese manufacturers operating in India include consumer electronics and vehicle producers.
"Also behind their bullish business plans are investment climate improvements including road network development and tariff reductions," the official said.