Two Japanese companies announce investment of Rs 576 cr in Telangana

Hyderabad (Telangana) [India], December 13 (ANI): Two Japanese companies on Tuesday announced a total investment of Rs 576 crore in Telangana.
In the presence of Telangana Industry and Commerce Minister KT Rama Rao, the Telangana government and Daifuku signed an MoU to set up a new manufacturing facility in the state.
Further, Nicomac Taikisha Cleanrooms Private Ltd will be setting up its third manufacturing facility in Hyderabad investing Rs 126 crore to expand its cleanroom production and start producing HVAC systems.
Speaking at the occasion, KTR said, “DAIFUKU coming to Telangana and setting up a brand new factory with Rs 450 crores of investment and providing employment to more than 800 people is indeed something we want to celebrate. I can tell that DAIFUKU has made the right choice. Whichever industrialist or potential investor I meet, they have a renewed enthusiasm towards setting up a manufacturing base in India.”
Post-pandemic, KTR said the world has realised that there is too much dependence on China for bulk trucks, medical supplies and everything. When the supply chain was disrupted, every industrialist was affected in one way or another.
“The world has started thinking about excessive dependence on China. All players in the industry tell me there has to be a China plus one strategy where the manufacturing for China can be done in China and we have to start looking at other bases for the rest. China and India are similar in terms of our sizes, workforce and thinking force. While drawing an oversimplified comparison, people will say that India is a logical place to move to from China,” the Minister said.
He said China is a homogeneous country but India is different. “There is not one, but 28 different Indias because of the federal structure we have. Each state is uniquely empowered,” he emphasised.
The Minister said India does not have the luxury to grow at its own pace.
He said, “We have to seize this opportunity. We are uniquely positioned as the world is looking for alternate manufacturing locations outside China. We should do what the US in the last 30 years and China did in the last 25 years in the coming span of 10 years. We do not have the luxury of leapfrogging. We have to pole vault and jump and few hoops. We have to focus on basic manufacturing and also ensure to get efficient manufacturing coming out as part of Industrial revolution 4.0.”
KTR said there is a need to inculcate design thinking at school curriculum level in India. He said there is a need to ensure an apprenticeship model at the higher educational and vocational training level.
“We also need to compete on scale. We have to create World’s largest Pharma and industrial parks while competing with countries like China. Land is a luxurious commodity with a limited supply. India has been growing and has a large domestic market. But how many of our products are truly world-class? Access to capital is no more a concern if you have an idea. Now with government support, capital flow and the world looking at us with renewed enthusiasm, Indian entrepreneurs need to make some bold moves. Please think big, aggressively and for the world, not just for India. I strongly believe that we have it in us to make world-class products and provide solutions to the world,” he added. (ANI)