Tamil Nadu

“More Japanese firms planning foray into State”

Chennai:01-05-2010: Signing of MoU between Government of Tamil Nadu and JETRO Japan External Trade Organization at Hotel Le Meridian, on Saturday. Standing From Left: Toshiyuki Shiga COO, Nissan Motors,Venu Srinivasan President CII, Jaya Shree Muralidharan, Executive Director, (SIPCOT) Rajeev Ranjan, Principal Secretary Industries, Government of Tamil Nadu, Masayuki Naoshima, Minister, METI, Japan, Hideaki Domichi Japanese Ambassador and Shinya Fujii, Director General, JETRO Chennaiof India are in the picture. Photo: R_Shivaji Rao

Chennai:01-05-2010: Signing of MoU between Government of Tamil Nadu and JETRO Japan External Trade Organization at Hotel Le Meridian, on Saturday. Standing From Left: Toshiyuki Shiga COO, Nissan Motors,Venu Srinivasan President CII, Jaya Shree Muralidharan, Executive Director, (SIPCOT) Rajeev Ranjan, Principal Secretary Industries, Government of Tamil Nadu, Masayuki Naoshima, Minister, METI, Japan, Hideaki Domichi Japanese Ambassador and Shinya Fujii, Director General, JETRO Chennaiof India are in the picture. Photo: R_Shivaji Rao   | Photo Credit: R_Shivaji Rao

Japan looking at Chennai as India's gateway to South-East Asian countries

Japan is looking at Chennai as India's gateway to South-East Asian countries, said Masayuki Naoshima, Japanese Minister of Economy, Trade and Industry, on Saturday.

At the inauguration of the Japan External Trade Organisation (JETRO) office here, Mr. Naoshima said the number of Japanese companies in the State had increased to 169 in October 2009 from 65 in 2007. Many more companies were considering opening offices in Tamil Nadu.

JETRO's Chennai office would help promote mutual trade and investment in India, Japan and ASEAN countries, he emphasised.

Ambassador of Japan in India, Hideaki Domichi, said India's growth was the centre of world's attention and a Japan Bank of International Co-operation (JBIC) study had revealed that India would be one of the top investment destinations in the next ten years. JETRO had played a pivotal role in bringing investments to north India, he said, expecting the Delhi–Mumbai Industrial Corridor to be operational by 2016.

CII president Venu Srinivasan said there was a great deal of interest between India and Japan in this new era of economic partnership as trade was $11 billion last year despite economic slowdown.

JETRO director general Shinya Fujii said the number of Japanese companies setting up offices in India had more than doubled, from 276 to 627 in the past five years. Chennai, dubbed as the Detroit of India, was fast emerging as IT and electronic hub. At a bilateral meeting earlier in the day, Deputy Chief Minister M. K Stalin said the State had already decided to establish a dedicated industrial park exclusively for Japanese investors with facilities that matched those available in Japan considering the flow of investment.

Aware of the State's responsibility to continually improve and upgrade social, economic infrastructure to stay ahead in the race of industrialisation, Mr. Stalin said the Japanese would be interested on the proposed Chennai–Bengaluru and Chennai–Ennore industrial corridors.

Further, there was scope for setting up of a multi-logistic park near Chennai and promotion of projects in sectors such as transportation, education, health care, tourism and agriculture in public private partnership mode, he said.

State Industries Secretary Rajeev Ranjan said India was safe to invest in the long run with very high returns.

At the inaugural function, JETRO Director-General Shinya Fujii and State Industries Promotion Corporation of Tamil Nadu executive director Jayashree Muralidharan signed an MoU to promote mutual trade and investment between the two countries, especially to Tamil Nadu.

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Printable version | Apr 8, 2020 11:49:04 AM | https://www.thehindu.com/news/national/tamil-nadu/ldquoMore-Japanese-firms-planning-foray-into-Staterdquo/article16297583.ece

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