The BJP led government in Gujarat will set up an industrial park on a sprawling 1,555 hectare at Khoraj near Sanand in Ahmedabad district and it will be dedicated for Japan based companies
Japanese companies have evinced a keen interest to invest in a big way in Gujarat in auto and auto ancillaries, manufacturing, defence, electronics, IT, food and fabrication. Gujarat has been zeroed in on due to simplification of procedures, lack of delays in grant clearances and low infrastructure and labour cost.
The BJP led government in Gujarat will set up an industrial park on a sprawling 1,555 hectare at Khoraj near Sanand in Ahmedabad district and it will be dedicated for Japan based companies. Already, the first Japanese industrial park has been developed at Vithalapur where Japanese companies have made an investment of Rs 1,500 crore.
Suzuki's Rs-3,000 crore investment along with Honda Motorcycle and Scooter India's Rs -1,100 crore are some of the big-ticket Japanese investments in the state recently.
According to a Gujarat government officer, Japan has been the leader in FDI inflow to Gujarat. Japanese investment in the state is estimated at $1 billion and it is expected to double in the next three years or so.
This apart, Modi has already invited Japanese companies to invest in textile sector in view of state's textile policy is based on five F formula of Farm-Fibre-Fabric-Fashion-Foreign.
RK Jha, former managing director of Gujarat International Finance Tec-City told DNA, \"Prime Minister Abe's visit will provide an opportunity to attract state of the art technology and investment in manufacturing, electronics and other sectors in Gujarat and other states. It will also help in skill development.''
Shrikant Atre, president of Indo Japan Business Council, said that Gujarat has an edge to attract investments due to lower labour cost and competitive power tariff.
CII in its report said that huge complementarities exist between the two Asian economies, making them a perfect strategic economic partner by balancing the opportunities available to each other.
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