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Rajasthan extends association with Japanese trade body

JAIPUR: Rajasthan State Industrial Development & Investment Corporation (RIICO) has announced an extension of its association with the Japanese trade body JETRO (Japanese External Trade Organization) to encourage more investment from that country in Rajasthan and to work jointly to promote business alliances on the proposed Delhi Mumbai Industrial Corridor (DMIC).

A day back a MoU was signed in this regard in the presence of Industries Minister Digamber Singh, Principal Secretary Industries Ashok Sampat Ram and N. Noguchi, Director General, JETRO.

The extension of the MoU is seen as a step towards improving the economic relationship between the India and Japan. The agreement is expected to help promote business alliances between Indian and Japanese companies on DMIC, 45 per cent of which will pass through Rajasthan.

“We are delighted with the agreement as it will boost economic ties and increase Japanese investments," said Dr.Singh. “It will also help to develop human resources in high technology areas and promote further development of Rajasthan. It is great to see that most of the Japanese MNC companies have already established their first unit in India at Neemrana after the first MoU,” he said.

“We recognize the immense potential for trade and investment cooperation between Japan and India. We have already set up base at the ‘Japanese Investment Park’ at Neemrana. I feel happy about the MoU with RIICO to extend the Japanese investment in the State for another year,” Mr. Noguchi, said.

The first MoU between RIICO and JETRO was signed in July 2006 for the joint promotion of the first exclusive Japanese Investment Zone at Neemrana. Since then 14 investments have taken place and the extension of the MoU is to expand investments that bring modern technology and management practices in developing skills of white-collar workers. The total area allotted for Japanese investment at Majrakath, Neemarana, is 271.44 acres, and out of which 222.44 acres of land has been allotted to various companies and 49 acres of the land is reserved.

The DMIC, to be developed on the PPP model along the 1,515 km-long Delhi Mumbai Freight Corridor (DMFC), will extend 150 km on both sides of DMFC. The Department of Industrial Policy & Promotion and DMFC have identified some key nodes for industrial development along the industrial corridor in Rajasthan such as the Neemrana-Bhiwadi, Ajmer-Kishangarh, Jaipur-Dausa, Marwar Junction and Bhilwara-Rajasmand.

Neemrana figured prominently in the speeches of Mr. Noguchi and Mr. H. Domichi, Ambassador of Japan on the occasion of the launch of an Indo-Japanese matching portal called “Indo New Window” on July 16. A joint effort by JETRO and Confederation of Indian Industry (CII) the portal is for encouraging Indian and Japanese companies to find potential business partners in import-export, technology transfer, investments and business tie-ups.

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