Another noteworthy happening on the first day of the fair was the visit by the three-member delegation from Toray Industries Inc., reported to be the world's largest manufacturer of synthetic yarn and fibre with a turnover of over $10 billion. Led by Mr Tsuyoshi Sumida, General Manager, Interior Department, the team visited the fair looking for strategic partnerships and alliances.
“We are looking at new areas like India, Brazil and Russia, to invest in, mainly because most Japanese companies have completed their investments programme in China. Investments could be in the form of joint ventures or technology transfers,” said Mr Sumida. “Japanese companies could make use of the strengths of Indian manufacturers like fine fabrics, design and innovation and use India as a manufacturing base for exports to the Western world. Besides, India itself is a big market and we could introduce some unique products not made here.”
“We are here because as the saying goes: seeing is believing,” said Mr Sumida. As the leader and therefore being the driving force in Japan, the delegation from Toray Industries Inc., represents over 90 major Japanese companies in the textiles trade. The delegation will meet major manufacturers and centres and learn more about the manufacturing capabilities, infrastructure, government and banking regulations and policies, tax structures and so on. They plan to visit other countries like Brazil and Russia before submitting a feasibility report back home.
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