Fifteen Japanese Firms To Invest In Gujarat

Fifteen Japanese firms would invest in Gujarat, which will also benefit from cheaper loans for infrastructure development from Japan International Cooperation Agency (JICA), the PTI said in a report.

The firms would sign the investment agreements with the state government during the 12th Indo-Japanese Annual Summit in Gandhinagar tomorrow (Thursday), which will coincide with Japanese Prime Minister Shinzo Abe's two-day visit.

The companies, some of which include Moresco, Toyoda Gosei, Topre and Murakami, “will invest in Gujarat during the next one month, for which MoUs will be signed during the summit,” said the report citing Gujarat Chief Secretary J N Singh.

Vice-president and managing director of the Gujarat Industrial Development Corporation (GIDC) D Thara said, of the 17 to 18 agreements to be sealed during the summit, 15 will be between the Japanese firms and the GIDC, “for which they've started the process of purchasing land from GIDC.”

While the quantum of investment will be disclosed later, a high-level delegation comprising representatives from 55 other Japanese firms would visit the state’s industrial clusters at Mandal and Sanand talukas of Ahmedabad, in order to obtain first-hand information about the infrastructure, Thara said. (PTI)