Japan to invest in J&K if situation is normal

Japan is ready to invest and build a business relationship with Jammu and Kashmir if the situation in the valley normalises, Japanese Ambassador to India Kenji Hiramatsu said.

Asked whether Japan is considering the northern state as a potential investment hub after Article 370 of the Indian Constitution was scrapped, taking away the special status of J&K and allowing companies from elsewhere and abroad to invest there, Hiramatsu said Japan looks forward to “positive development” in the region. “Yes, of course. I hope the situation there normalises. This is a decision taken by the Indian government. We will have to see. Japan shares a good business relationship with India and of course, there is a possibility of doing business any place that is part of India,” the Japanese envoy said at the Bengal Chamber of Commerce and Industry.

“When the situation normalises, I hope at some point there will be some kind of business collaboration between Japan and Jammu & Kashmir. We are looking forward to a positive development in future,” he said.

Hiramatsu said the number of Japanese companies in India had increased from 1,156 in 2014 to 1,441 in 2019, while the sectors of investment have also grown significantly. He said a new momentum has been added to economic partnership between the two countries while shared security and defence cooperation was rapidly catching up. He is encouraging defence companies in Japan to engage in more business opportunities with India.