Japanese investment in Gujarat is likely to increase to $3 billion by 2020, from the current $1 billion, said Chief Minister Vijay Rupani, at the inauguration of a Business Support Centre (BSC) of the Japan External Trade Organisation (JETRO), in Ahmedabad on Thursday.

The Chief Minister further said that Gujarat had been a preferred destination for Japanese investments.

Further, a hybrid industrial park will play a key role in attracting investments to the State.

At the time of launch of the Business Centre, 10 Japanese companies — mostly in the automobile sector — signed a Memorandum of Understanding (MoU) with the State government.

“Japanese companies are contributing to the ‘Make In India’ mission. For Japanese companies, Gujarat is a second home in India. Last year, 15 MoUs were signed, while 10 MoUs were signed yesterday [Wednesday],” said Hirokuki Ishige, Chairman, JETRO.

Rupani assured all support to the Japanese companies willing to invest in the State. “We have already implemented single-window clearance, ease of doing business and government support for infrastructure development. But we are also committed to support development of hybrid industrial park in the State. We have already identified land for Indo-Japan Industrial Township and Auto Value Chain. We are hoping for about $3 billion worth of investments by Japanese companies by 2020 in the State,” said Rupani.

Gujarat is working to set up an Indo-Japan industrial township, for which the State government has acquired 1,750 acres of land at Khoraj in Sanand. The government is also setting up an auto value-chain park in Bhagapura near Ahmedabad. The State has reserved 273 hectares of land for auto vendors.

Rupani further stated that Gujarat’s contribution to the national GDP is 8 per cent, 18 per cent to the country’s total industrial production, and 20 per cent in exports.

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