SBI looks to woo Japanese business | Reuters

NEW DELHI State Bank of India (SBI) launched an initiative on Tuesday to help strengthen business ties between Asia's third-largest economy and Japan, where investors eyeing Indian markets need support in navigating the country's notoriously complex bureaucracy.

SBI dedicated Japan desk offers wholesale and retail banking products like rupee funding for Japanese businesses and banks, as well as guidance on Indian companies and regulations.

"Whereas Japan has the skill and the capital, India has the skill and the market," SBI Chairman Arundhati Bhattacharya told reporters in New Delhi after launching the initiative. "Japanese companies need special attention to understand the complexities (of markets like India)."

Japan is the fourth largest foreign investor in India, and PM Narendra Modi and his Japanese counterpart Shinzo Abe, who enjoy a close relationship, have made much of the opportunity for both countries as India tries to grow its manufacturing industries.

But Japanese firms investing in India face complex and at times baffling regulatory hurdles. India ranked 130th in the World Bank's latest ease of "Doing Business" report of 189 countries, behind fellow emerging markets South Africa, China and Brazil.

(Reporting by Tommy Wilkes; Editing by Gopakumar Warrier)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Feb 17, 2016 01:30 AM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See