Japan, India jointly review work under Japanese Industrial Townships
ECONOMY & POLICY

Japan, India jointly review work under Japanese Industrial Townships

The progress of the Japanese Industrial Townships (JITs) located in India has been jointly reviewed by the Department for Promotion of Industry and Internal Trade (DPIIT) along with the Ministry of Economy, Trade, and Industry (METI), Japan.

Currently, there are 114 Japanese companies operating in the JITs. Being the fifth largest investor, Japan’s contribution is over $36.2 billion in India in cumulative investments since 2000, including the key sectors like electronics system design and manufacturing (ESDM), automobiles, textiles, medical devices, consumer goods, chemicals, and food processing.

In a statement, the Ministry of Commerce and Industry said the JITs were established in accordance with the 'action agenda for the India-Japan investment and trade promotion and Asia-Pacific economic integration which was signed between DPIIT and METI in April 2015 for taking steps towards the development of 'Japan Industrial Townships' in the country, specifically in the Delhi-Mumbai Industrial Corridor (DMIC) and Chennai-Bengaluru Industrial Corridor (CBIC) for facilitating Japanese investment in India.

The Neemrana and Sri City industrial townships are the host to the majority of these Japanese companies. Companies including Isuzu, Daikin, Yamaha Music, Kobelco, Hitachi Automotive, and others are the major Japanese investors having manufacturing in the Japanese townships. Numerous applications are received by the Production Linked Incentive (PLI) scheme that had been announced for 14 sectors.

Japanese companies have further applied for the Production Linked Incentive (PLI) schemes and have the approvals. The Central government’s initiative National Single Window System also showcased to the Japanese side.

Image Source

Also read: Prestige Group plans to set up $500 million investment funds

The progress of the Japanese Industrial Townships (JITs) located in India has been jointly reviewed by the Department for Promotion of Industry and Internal Trade (DPIIT) along with the Ministry of Economy, Trade, and Industry (METI), Japan. Currently, there are 114 Japanese companies operating in the JITs. Being the fifth largest investor, Japan’s contribution is over $36.2 billion in India in cumulative investments since 2000, including the key sectors like electronics system design and manufacturing (ESDM), automobiles, textiles, medical devices, consumer goods, chemicals, and food processing. In a statement, the Ministry of Commerce and Industry said the JITs were established in accordance with the 'action agenda for the India-Japan investment and trade promotion and Asia-Pacific economic integration which was signed between DPIIT and METI in April 2015 for taking steps towards the development of 'Japan Industrial Townships' in the country, specifically in the Delhi-Mumbai Industrial Corridor (DMIC) and Chennai-Bengaluru Industrial Corridor (CBIC) for facilitating Japanese investment in India. The Neemrana and Sri City industrial townships are the host to the majority of these Japanese companies. Companies including Isuzu, Daikin, Yamaha Music, Kobelco, Hitachi Automotive, and others are the major Japanese investors having manufacturing in the Japanese townships. Numerous applications are received by the Production Linked Incentive (PLI) scheme that had been announced for 14 sectors. Japanese companies have further applied for the Production Linked Incentive (PLI) schemes and have the approvals. The Central government’s initiative National Single Window System also showcased to the Japanese side. Image Source Also read: Prestige Group plans to set up $500 million investment funds

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