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In a bid to woo more Japanese investment into the country, senior officials from the Department for Promotion of Industry & Internal Trade (DPIIT) and various State governments made a presentation to officials from Japan’s Ministry of Economy, Trade and Industry (METI) on the developed land and infrastructure readily available for Japanese investors in Japanese Industrial Townships (JITs) across the country.
“The emerging sectors that offer new opportunities to attract Japanese investments into the JITs were highlighted, besides showcasing opportunities for investment in sectors such as Information and Communications Technologies, Renewable Energy, Electric Vehicles, Drones, Robotics and Textiles,” according to an official release issued by the DPIIT on Monday following a joint meeting of officials from India and Japan to review the JITs.
Officials from the Japanese Embassy in India and the Japan External Trade Organisation (JETRO) also represented Japan at the meeting. India’s delegation included officials from the Ministry of External Affairs, the Indian Embassy in Tokyo and representatives of States and Invest India.
As many as 114 Japanese companies, including Daikin, Isuzu, Kobelco, Yamaha Music and Hitachi Automotive have so far set up units in Japanese Industrial Townships in India, but there is scope for many more.
Japan is the only country that has dedicated country-focused industrial townships across India. The JITs offer facilities such as special Japan desks for translation and facilitation support, world-class infrastructure facilities, plug and play facilities, residential clusters, and special incentives for Japanese companies. “There are ready-to-move-in facilities and fully developed land available for allotment in these townships,” the statement said.
The JITs were set up following an action agenda on promoting investments signed between the two countries in April 2015, where it was decided that such townships should come up throughout the country, especially in the Delhi Mumbai Industrial Corridor (DMIC) and the Chennai Bengaluru Industrial Corridor (CBIC) regions.
“As the fifth largest investor, Japan has contributed over $36.2 billion in cumulative investments since 2000, especially in key sectors such as automobiles, electronics system design & manufacturing (ESDM), medical devices, consumer goods, textiles, food processing and chemicals,” the statement said.
Indian officials highlighted the opportunities offered by the Production Linked Incentive (PLI) scheme announced for 14 sectors, for which several Japanese companies have also applied and qualified. Information was also shared on the National Single Window System and the National Infrastructure Pipeline .
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