The state says both Japan and India will sign an agreement to set up an institute under PM Modi’s ‘Make In India’ and ‘Skill India’ initiatives
The historic visit of Japan's Prime Minister Shinzo Abe and PM Narendra Modi will add a new chapter in Gujarat's industrial and economic development, the state government said on Monday.
Both Japan and India will sign a cooperation agreement for setting up a Japan-India Institute of Manufacturing in the presence of the two PMs. It would be set up jointly by Japan's Ministry of Economy, Trade and Industry and Gujarat government under the 'Make In India' and 'Skill India' campaigns over 1,750 acre at Khoraj near Sanand.
Japan has invested heavily in automobile manufacturing sector in Gujarat, with Suzuki and Honda being the two major companies that have set up plants in the state. Officials said that measures have been taken to continue to facilitate Japanese investments in the state in the future.
While stating that the Japan-India Institute of Manufacturing would prove to be very important to put industrial investment in Gujarat on a fast track, the state government said that it would equip 30,000 youths with the requisite industry skills over the next 10 years.
"In the initial phase, 500 students of Ganpat University, Mehsana, have been selected. They will be trained in five different sectors by experts from Japan as per Japanese practices," it said, adding that companies such as Suzuki, Yamaha and Tokio have also expressed interest in partnering with the Institute.
Japanese investments in Gujarat is to the tune of $1 billion so far. The country has been one of the largest sources of foreign direct investment in the state in recent years. Officials expect Japanese investment in the state to pick up pace in the next couple of years to cross $3 bn by 2020.
Gujarat and Japan are also collaborating for setting up an Indo-Japanese Industrial Township at Khoraj, which will see industries related to engineering, aerospace, defence, pharmaceuticals, electronics and automobiles setting up shop at the 1,550-hectare park.
Supporting infrastructure for the Park such as industrial estate, electricity management, telecommunications, human resources, and housing construction would be undertaken jointly. The Japanese government will particularly look at plug and play factory, logistics and human resources.
"A hybrid industrial park would be developed on a public private partnership basis," the government said.
HELPING HAND
- Japanese investments in Gujarat is to the tune of $1 billion so far.
- Japan has been one of the largest sources of foreign direct investment.
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