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Modi woos Japan Inc to invest in Gujarat

Gujarat chief minister Narendra Modi clearly does not want to lose out on a big-ticket investment from Japan.

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CM invites companies to explore automobile making and shipbuilding

AHMEDABAD: Gujarat chief minister Narendra Modi clearly does not want to lose out on a big-ticket investment from Japan.

Close on the heels of top Japanese auto companies visiting Gujarat, Modi held a luncheon meeting with a high-level delegation consisting of heads of Japanese companies and industry associations at FICCI in New Delhi and apprised them of investment opportunities in various sectors, especially automobile manufacturing.

The auto companies Nissan, Mitsubishi and Suzuki are already exploring locations for setting up a car terminal that would enable an export of 4 lakh cars a year.

They had visited Maroli in south Gujarat and later the Mundra port of the Adanis.

“With large number of operational ports, it would make an economic sense to transport automobile parts in completely knocked down (CKD) condition to the ports, assemble them as cars and then export them,” Modi told the delegation.

The Japanese automobile industry can take full advantage of the huge presence of auto component industries in Gujarat, he said. The state government was willing to do everything possible to help identify assembly line locations for automobiles near ports.

The Japanese companies were also assured of government facilitation for easy land acquisition for setting an exclusive special economic zone or industrial parks with housing and recreational facilities.

Talking about the business association between Japan and Gujarat, Modi said: “Gujarat as an investment destination is not new to Japan. Around 45 projects with technical collaboration from Japan are under implementation in the state, of which six have already commissioned,” Modi said in his presentation to the delegation.

There are 21 projects in Gujarat, wherein foreign direct investment has come from Japan, of which 18 have been commissioned and two are under implementation. Besides, Novino in Vadodara and Hitachi in Ahmedabad, the Sumitomo Corporation of Japan had supplied generators for the hydro-electric power plant on the Sardar Sarovar Narmada Project.

He also drew parallels between Japan and Gujarat saying how both states, despite being geographically small, have emerged as an economic force in their regions.

The 40-member Japanese delegation included chairmen of the Japan Chamber of Commerce and Industries, Tokyo Chamber of Commerce and Industries, Sendai Chamber and Miya Konojo chamber, heads of Mitsui Fudosan, Mitsubishi Corporation, Honda Motors, Shiseido Cosmetic Company and representatives of Tokyo Tomin Bank Ltd and chairman of Japan-India Business Co-operation Committee.

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