Economy of Gujarat to cherish more in 2020 as Japanese investments will grow three-fold to $3bn

Ahmedabad, July 6: Japanese firms have invested $1 Billion in Gujarat so far and by 2020 they are expected to scale up the investments to $ 3 Billion. This was said by Gujarat Chief Minister Vijay Rupani at the opening of a support centre of the Japan External Trade Organization (JETRO) on Thursday in Ahmedabad.

 

The Chief Minister also assured all possible support to the Japanese companies willing to invest in the State in near future. “We have already implemented single-window clearance, ease of doing business and government support for infrastructure development. But we are also committed to support the development of hybrid industrial park in the State,” he added.

CM Rupani further said, “We have already identified land for Indo-Japan Industrial Township and Auto Value Chain. We are hoping for about $3 billion worth of investments by Japanese companies by 2020 in the State.” CM Rupani, in the end, stated that Gujarat’s contribution to the national GDP is 8 percent, 18 percent to the country’s total industrial production, and 20 percent in exports.

On this occasion, at least 10 Japanese companies, majorly in the automobile sector signed a Memorandum of Understanding (MoU) with the State government. Meanwhile, JETRO Chairman, Hirokuki Ishige said, “Japanese companies are contributing to the ‘Make In India’ mission.” “For Japanese companies, Gujarat is a second home in India,” he added.

Importantly, last year at least 15 MoUs were signed, while 10 MoUs were signed this year. Gujarat is also working to set up an Indo-Japan industrial township, for which the State government has acquired 1,750 acres of land at Khoraj in Sanand. The state government is also setting up an auto value-chain park in Bhagapura near Ahmedabad. The State has reserved 273 hectares of land for auto vendors.