HUBBALLI: Japan is looking towards tier two cities in India to invest, said Japan External Trade Organisation (JETRO) director general Takashi Suzuki He was speaking at trade and investment promotion programme organised by the Karnatak Chamber of Commerce and Industries with the District Industry Centre here on Friday.“Japan is excited to invest in India and it is looking at tier two cities to expand its business. As many as 1369 Japanese companies are already working in India, of which 12 companies are in Karnataka ,” he said.“Lots of Japanese companies send inquiries to JETRO regarding setting up firms in India as Japanese companies in India are making profits compare to other Association of South East Asian Nations (ASEAN) countries,” he said.He also invited Indian entrepreneurs to establish their firms in Japan. Suzuki said Japan was expecting 315 billion US Dollar foreign direct investments by 2020. “JETRO will help Indian companies to setup their business in the country under Invest in Japan programme. Already, 120 companies are working in the island country,” Suzuki added.Japanese investment in India has increased from $150 million in 2001 to $4.7 billion in 2016-17, he added. Suzuki said JETRO was trying to establish a link with technical universities to enhance skills of students according to the industry needs.P Nagesh, joint director of District Industry Centre, requested Japan to invest in the valves and auto component sector that is thriving in Hubballi-Dharwad. KCCI former president Ramesh Patil also spoke.

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