CM Naidu invites Japanese firms to invest in Andhra

Andhra Pradesh Chief Minister N. Chandrababu Naidu Monday invited Japanese investors to his state as he began his four-day visit to Japan.

Naidu, who is leading a 13-member delegation, met Naoki Kobayashi, managing director and general manager for agriculture machinery and equipment business, Yanmar.

Naoki gave a presentation on how to increase the yield of rice per acre, land preparation, nursery and planting, crop management and harvesting. He said by using the latest techniques, farmers can get 50percent more profit.

[caption id=“attachment_109890” align=“alignleft” width=“380”]  AP image.[/caption]

Naidu extended an invitation to Yanmar to explore opportunities in Andhra and help the state in making agriculture profitable and sustainable.

Yanmar recently tied-up with Tamil Nadu-based Murugappa Group.

The chief minister invited Yanmar Group to set up a manufacturing facility in the state. He said manufacturing in Andhra Pradesh would enable an access to all the markets in Asia because of the ports.

“Our single-window clearance, rapid approvals and 24X7 power are the attractive points,” he said.

According to an official release here, Naidu also met Shihenobu Nagamori, chairman of Nidec, a leading manufacturer of electric motors. Nagamori said that it is difficult to do business with India because of red tape and slow processing.

In response, the chief minister replied saying India has changed, both at the centre and state levels and it will get better in a few years.

“If you want to start a manufacturing unit in our state, we can give clearances in a week’s time. On the 8th day, you can start your process,” Naidu assured Nagamori.

Nagamori informed Naidu that once they start their operations in India, they could use it as a base for exports.

More from Economy

Inflation likely to be a big focus area for budget 2024, say sources Explained: Will the Bank of Japan break tradition and raise interest rates?

IANS