Japanese electronics major Hitachi on Thursday said it is looking at India as an investment destination, but infrastructural bottlenecks needed to be removed for it to commit itself here.
"India is a fast growing country in the world and has a competitive advantage as against countries like China and US. But there are certain infrastructure handicaps like power crisis which need to be addressed," Hitachi Ltd Chairman Emeritus Tsutomu Kanai.
He was speaking on the sidelines of the CII organised 17th international Engineering and Technology Fair in New Delhi.
Kanai, who is also chairman of the Japanese Machinery Federation, said that Japanese businessmen were aiming at India for exploring the available trade opportunities and are shifting their focus from China to India.
The Confederation of Indian Industry and JMF signed a memorandum of understanding on Thursday to enable the members of both the organistions to work closely.
"The MoU would provide a platform to the members of both CII and JMF to come together and explore the business opportunities more closely in India and Japan," CII Northern Region Deputy Chairman Deep Kapuria said.
He said focus would now also be laid on heavy machinery besides the light machinery, keeping in mind the booming infrastructure sector.
The proposed Delhi-Mumbai dedicated freight corridor would also provide immense opportunity for the Japanese machines or the technology to come to India, he added.