In line with the Japanese PM’s commitment to Narendra Modi government, Japan plans to double its investment in the country – to build infrastructure and promote domestic manufacturing. Japan has identified 11 sites to set up industrial townships in the country including Tumkur in Karnataka, Ghilot in Rajasthan, Mandal in Gujarat and Supa in Maharashtra.
The total investment would amount to about $35 billion in the next five years.
In return, the Indian government plans to give concessions to Japanese companies in the industrial townships, equivalent to at least what is offered to units in special economic zones and the proposed National Investment & Manufacturing Zones. A welcome move!
Japan is the fourth-biggest foreign investor in India, contributing 7% to the total FDI inflows since April 2000 and brought $18 billion worth of FDI between April 2000 and February 2015.
This is an excellent move to generate employment and empowerment in the country. We hope that the cooperation brings in positive business sentiments and attracts further investment from other neighboring countries as well.
Source: Eco Times