JAPAN-ASEAN-INDIA

POINT OF VIEW/ KEIICHIRO OIZUMI: JAPAN CAN INCREASE PRESENCE IN INDIA VIA ASEAN

Keiichiro Oizumi

The Asahi Shimbun, July 23, 2012

As India’s domestic market grows, its imports have increased rapidly.

To secure a position in the Indian market, exports from production bases in members of the Association of Southeast Asian Nations are vitally important in addition to export promotions from Japan and investment in India.

India’s real GDP growth rate has been on a downward trend since peaking at 8.3 percent in the October-December period from the same quarter the previous year.

Nevertheless, the economy was able to maintain a high 7.1 percent year-on-year growth in 2011.

For the five years through 2012, India’s economic growth rate has been a high 8.1 percent on average, and the International Monetary Fund projects that an average annual growth of around 8 percent will be maintained over the next five years.

At $1,457, per capita GDP is low, but India’s markets have changed significantly, in terms of size and substance, in the wake of high economic growth.

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