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Japan to provide financial aid to businesses working with Indian IT companies

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Prime Minister Shinzo Abe observes a Suzuki Corp. display with Indian Prime Minister Narendra Modi in Gujarat, India, in September 2017. Yomiuri Shimbun file photo

Japan to provide financial aid to businesses working with Indian IT companies

Japanese companies planning to start new businesses in India in collaboration with local IT firms will receive financial assistance from the Japanese government, The Yomiuri Shimbun has learned.

The assistance will be provided to about 10 companies, including optical equipment-maker Olympus Corp and automobile giant Suzuki Motor Corp, as part of the Japan-India digital partnership formed between the two nations’ governments in 2018.

The money is meant to support the companies’ efforts to draw on India’s outstanding human resources in the field of IT.

The government will grant subsidies totalling about 100 million yen ($945,000) to the companies, which also include members of such industries as agriculture and clothing.

It is hoped that the assistance will help boost their businesses’ credibility and facilitate their operations in India.

In collaboration with India’s IT giant HCL Technologies Ltd, Olympus will build a system in which doctors can examine patients’ symptoms remotely by using endoscopes and smartphones. They hope to help solve the serious doctor shortage problem in India’s regional areas.

Suzuki will also cooperate with an Indian IT firm and NGO to develop a transit bus traffic control system in India’s rural areas, where public transportation systems are underdeveloped.

Japan and India concluded a bilateral partnership pact to cooperate in the digital field in 2018. They aim to develop internationally advanced businesses by combining Japan’s technical and funding capabilities with India’s digital technology.

They also plan to expand successful endeavours into other areas in Asia and Africa.

US and Chinese companies are now battling fiercely for leadership in the digital field, as Chinese companies have grown rapidly.

Collaboration with Indian firms is believed to be a promising move for Japanese companies.



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