As many as ten more Japanese companies have signed MoUs (Memorandum of Investment)
Japanese investments in Gujarat will grow three times to about $3 billion by 2020, Gujarat Chief Minister Vijay Rupani said on Thursday. He was speaking at the opening of a support centre of the Japan External Trade Organization (JETRO). The CM said the state government would extend all support to the Japanese investors. As many as ten more Japanese companies have signed MoUs (Memorandum of Investment).
"Japanese investments in Gujarat stand at about $ 1 billion. It is expected to grow to $3 billion by 2020. We are glad that Japan is participating in the Make in India campaign. The opening of the support centre of JETRO is the right decision at the right time," said Rupani. Speaking to the media, the CM said the Gujarat government would coordinate with JETRO support centre to facilitate Japanese investments in the state.
The chief minister also informed that the Gujarat government has earmarked 273 hectare of land for a vendor park for the manufacturing facility of Suzuki Motor Corporation at Vithlapur near Ahmedabad. Another 1,700 acre of land has also been earmarked for a Japanese Township at Khoraj near Ahmedabad.
JETRO Chairman Hioyuki Ishige told media persons that more and more Japanese investments were pouring into Gujarat and JETRO was playing a critical role in it. "Ten companies have signed MoU for investments in Gujarat. Earlier, 25 companies had invested in Gujarat. JETRO has so far facilitated investments of about Rs 38.4 billion in India, most of which is in Gujarat," said Ishige. Most of the companies investing in Gujarat are related to automobiles or sectors associated with it.
Of late, Gujarat is emerging as a major investment destination for Japan and the automobile sector. Auto vendors believe that since auto companies are investing in Gujarat, it is the natural destination for ancillary companies as well. Suzuki Motor Corporation, a major Japanese investor in Gujarat, has already announced an increase in manufacturing capacity from 2.5 lakh units per annum to about 7.5 lakh units p.a. by 2020. The company is in the process of adding one more Japan India Institute of Management (JIM) in Gujarat in addition to the one in Mehsana, which is in partnership with Ganpat University.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "CM Vijay Rupani with Jetro Chairman Hioyuki Ishige during the inauguration")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}