India a safe base, Piyush Goyal tells Japanese investors
Indian Commerce Minister Piyush Goyal is courting Japanese investors by positioning India as a secure, transparent alternative to China for manufacturing. He emphasized India's growing middle class, youthful talent, and commitment to intellectual property rights as key advantages for Japanese firms.
Why it matters
The push reflects India's strategic effort to capitalize on the 'China+1' manufacturing strategy and strengthen economic ties with Japan amid regional geopolitical tensions.
TOKYO: It isn't just high growth and an expanding market that make India an attractive destination for investors. Commerce and industry minister Piyush Goyal on Monday added India's long list of FTAs and the possibility of Japanese companies using the preferential tariffs to set up a base to it and looking at it as a gateway to the world.And, he topped it up by positioning India as a safe base for Japanese companies as data is protected, intellectual property is secure and where an entrepreneur does not "go missing only to be found as a professor in some other country". The last three were seen as a dig at China, amid indications that companies, including Google, are looking to shift a part of their mobile manufacturing facility in what has come to be known as "China+1" strategy."India is not a plus one country.
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