Latest news with #JapanSakeandShochuMakersAssociation
Japan Times
24-03-2025
- Business
- Japan Times
Japan-India business ties can go the extra mile
Japanese and Indian businesses have made notable strides toward closer collaboration, leveraging their complementarity, but substantial support is needed to sustain the newfound momentum. This boost should come from both Tokyo and New Delhi, ensuring that positive rhetoric translates into tangible results. According to the Indian government, though foreign direct investment in the country declined in 2023, Japanese investment has shown a steady upward trajectory. India's growth prospects, large local market, inexpensive labor costs and steady macroeconomic conditions make it an increasingly attractive destination. Japan is already the fifth-largest source of foreign direct investment in India. A 2023 survey by the Japan Bank for International Cooperation (JBIC) ranked the South Asian country as the most promising medium-term overseas business destination for Japanese manufacturers, ahead of Vietnam and China. Even so, I cannot help but feel that the presence of Japanese companies in India has reached a plateau, with a general tendency toward risk-aversion leading to few new market entrants. While existing firms are doubling down on their operations, the flow of fresh investment has slowed down. The proportion of Japanese companies with plans to invest in India fell to 38% last year, a decrease of 7% from the previous year, according to JBIC. Surveyed firms cited various challenges in entering the Indian market, including underdeveloped infrastructure and intense competition from more aggressive non-Japanese companies. Uncertainties in the legal landscape, particularly at a state and local level, are especially challenging. For example, the Japan Sake and Shochu Makers Association reported a 62% surge in sake exports to India in 2023, fueled by the growing number of urban restaurants serving Japanese cuisine. At face value, this should present a promising opportunity for Japanese producers, but the reality is different. Even though India's approval last April of nihonshu's geographical indication has helped boost consumer trust and brand recognition, the Indian alcohol industry operates under one of the world's most complex regulatory frameworks, including states that ban alcohol sales altogether and inconsistent taxation rules across regions. Another hurdle for Japanese companies is fierce competition from Indian firms favored by their government. This is evident in the pharmaceutical sector where, theoretically, there is significant potential for deeper bilateral trade and investment given Japan's advanced health care technology and India's cost-effective drug manufacturing capabilities. But Indian public health procurement prioritizes 'made in India' drugs, and slow and complex clinical trial approvals also make things difficult. To ease this process, Japanese companies could establish contract development and manufacturing organization partnerships with Indian companies to diversify supply chains beyond China. Another widely cited barrier to entry is India's underdeveloped infrastructure — though most businesses, except for a few large ones, are unaware of India's rapidly improving infrastructure, mainly due to their limited on-the-ground engagement. In the semiconductor sector, Japan and India signed a memorandum of cooperation in July 2023 to strengthen their supply chain partnership. This paved the way for a few major players, including chipmaking equipment manufacturers Tokyo Electron and Disco, to enter the market. The challenge is getting small- and medium-sized enterprises to collaborate and take advantage of India's improving infrastructure, such as the Dholera Special Investment Region in the state of Gujarat. Japanese executives often do not fully grasp local developments, leading to heightened perceptions of risk and uncertainty when evaluating new business prospects. These obstacles are compounded by nontariff barriers on both sides. The comprehensive economic partnership agreement between the two countries, signed in 2011, was expected to enhance trade by reducing tariffs and boosting India's exports to Japan by 18%. However, India has since seen a growing trade deficit with Japan, significantly driven by nontariff barriers. For example, Japan's sanitary and phytosanitary measures pose major hurdles to Indian exports of poultry, meat, tuna, shrimp, marine products and fruit. While a trade deficit isn't inherently harmful, it highlights the need for both governments to work together to establish mutually recognized standards and certification processes. Promoting public-private dialogues and consultations is essential to addressing nontariff barriers and facilitating smoother trade. More broadly, global supply chains are shifting and great-power competition is increasing. The Japanese and Indian governments should actively support and push for stronger business ties, especially in sectors like banking, pharmaceuticals, medical devices, electronics, automotive, batteries and green hydrogen. Both countries continue to benefit from the efforts of their respective ambassadors but the diplomatic push needs more high-level engagement due to the complex and rapidly changing geopolitical situation. To boost economic collaboration, trade missions should be organized by both governments and their private sectors, supported by prominent industry groups or key intermediaries to connect businesses. At the same time, the renegotiation of the free trade agreement should be sped up to address nontariff barriers and reduce business hesitation in various sectors, helping both sides make better use of their commercial potential. Additionally, promoting joint research, technology transfer and educational exchanges would strengthen people-to-people connections, deepening ties — as would more interactions between trade promotion organizations. It is vital to focus diplomatic efforts on building stronger business links between India and Japan, overcoming internal challenges and driving sustainable economic collaboration that benefits both in the long term. Chitrali Parashar is a Washington-based analyst with The Asia Group, a strategic advisory firm.
Associated Press
07-02-2025
- Business
- Associated Press
Japan Sake and Shochu Makers Association Announces 2024 Sake Export Data: Record-High Exports to 80 Countries, Up 6% YoY
2024 Sake Export Performance More people around the world are enjoying Japanese sake (Photo: Business Wire) The Japan Sake and Shochu Makers Association (JSS) has released 2024 sake export data. The total export value reached JPY 43.5 billion, a +6% increase from the previous year, with 3.45 million cases (9L equivalent) shipped to a record 80 countries. Since 2020, export value has grown 1.8 times, the average unit price increased 1.3 times, and the number of export destinations expanded by 19. Premium sake markets have seen significant growth in the past five years. Regionally, Asia accounted for 61% of total export value but saw a slight decline YoY. However, South Korea recorded a notable 29% growth, while Thailand and Malaysia also performed well. North America saw a 27% increase, driven by fine-dining adoption. Western Europe grew 18% YoY, expanding 2.5 times over five years due to wine industry collaborations. The UK and France, in particular, expanded approximately threefold and 2.6 times, respectively. JSS's 2024 Key Initiatives and Future Outlook To enhance global awareness of sake, JSS has strengthened partnerships with the Association de la Sommellerie Internationale (ASI) and the Union de la Sommellerie Française (UDSF). In 2024, JSS held a masterclass at the ASI Boot Camp in Spain to educate young sommeliers on sake. Additionally, JSS participated in international trade fairs, including ProWein, ProWine São Paulo, and Warsaw Wine Experience, to expand distribution channels. A key milestone in 2024 was sake's inclusion in the service task of the finals at the ASI Contest Best Sommelier of Europe, Africa, and the Middle East 2024, furthering its recognition among sommeliers. Furthermore, the registration of 'Traditional knowledge and skills of sake-making with koji mold in Japan' as a UNESCO Intangible Cultural Heritage in December 2024 has boosted sake's global presence. In 2025, JSS aims to accelerate expansion into Latin America, Eastern Europe, and Southeast Asia to drive further export growth. Takeshi Itani SOURCE: Japan Sake and Shochu Makers Association Copyright Business Wire 2025. PUB: 02/06/2025 10:00 PM/DISC: 02/06/2025 10:02 PM
Yahoo
07-02-2025
- Business
- Yahoo
Japan Sake and Shochu Makers Association Announces 2024 Sake Export Data: Record-High Exports to 80 Countries, Up 6% YoY
TOKYO, February 07, 2025--(BUSINESS WIRE)--2024 Sake Export Performance The Japan Sake and Shochu Makers Association (JSS) has released 2024 sake export data. The total export value reached JPY 43.5 billion, a +6% increase from the previous year, with 3.45 million cases (9L equivalent) shipped to a record 80 countries. Since 2020, export value has grown 1.8 times, the average unit price increased 1.3 times, and the number of export destinations expanded by 19. Premium sake markets have seen significant growth in the past five years. Regionally, Asia accounted for 61% of total export value but saw a slight decline YoY. However, South Korea recorded a notable 29% growth, while Thailand and Malaysia also performed well. North America saw a 27% increase, driven by fine-dining adoption. Western Europe grew 18% YoY, expanding 2.5 times over five years due to wine industry collaborations. The UK and France, in particular, expanded approximately threefold and 2.6 times, respectively. JSS's 2024 Key Initiatives and Future Outlook To enhance global awareness of sake, JSS has strengthened partnerships with the Association de la Sommellerie Internationale (ASI) and the Union de la Sommellerie Française (UDSF). In 2024, JSS held a masterclass at the ASI Boot Camp in Spain to educate young sommeliers on sake. Additionally, JSS participated in international trade fairs, including ProWein, ProWine São Paulo, and Warsaw Wine Experience, to expand distribution channels. A key milestone in 2024 was sake's inclusion in the service task of the finals at the ASI Contest Best Sommelier of Europe, Africa, and the Middle East 2024, furthering its recognition among sommeliers. Furthermore, the registration of "Traditional knowledge and skills of sake-making with koji mold in Japan" as a UNESCO Intangible Cultural Heritage in December 2024 has boosted sake's global presence. In 2025, JSS aims to accelerate expansion into Latin America, Eastern Europe, and Southeast Asia to drive further export growth. View source version on Contacts Contact:Takeshi Sign in to access your portfolio
