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When His Excellency Mr Kenji Hiramatsu, Ambassador Extraordinary and Plenipotentiary of Japan to India, made a scheduled visit to the Reliance Model Economic Township (MET) Project site on the 7th March 2016, immediately after having addressed the gathering at the Inaugural Ceremony, Reliance Industrial Plots Jhajjar established JAPAN Industrial Township.”Happening Haryana” launched its Global Investors Summit 2016 at the inaugural ceremony.
During his visit, he had the opportunity to meet with members of METL, Marubeni, and Mizuho Bank representatives, as well as inspecting the proposed site of the “Japan Industrial Township in India” within the MET project area. He expressed his optimism about Japanese investment in the MET project area’s JIT site.
Eco-Friendly Property Selection
A better quality of life is provided by better surroundings. The demand for green society is increasing as homebuyers focus on reducing water and energy consumption. Developers should incorporate rainwater harvesting, waste management, solar panels, and other eco-friendly features into their projects. With people spending the majority of their time indoors, providing larger balcony spaces with more greenery would also be beneficial, helping to increase green areas.
Reliance Industrial Plots in Delhi, Haryana was one of the 11 sites.
The two Ministers emphasised the importance of developing “Japan Industrial Townships in India” with the help of state governments. The Department of Industrial Policy and Promotion (DIPP) and Japan’s Ministry of Economy, Trade, and Industry (METI) are also expected to participate. It is expected that “Japan Plus” will be a major player in maintaining an integrated approach to the development of Japan’s industrial towns.
Minister Miyazawa stated that METI and Japan External Trade Organization (JETRO) will use all available tools, including facilitation and coordination, and that JETRO will play a critical role in improving the investment and trade environment for Japanese enterprises through “Japan Industrial Townships in India.”.
Minister Sitharaman acknowledged METI and JETRO’s commitment to enhancing trade and investment between India and Japan.
A feasibility study by the Japanese Consortium for building a Japanese Industrial Township in MET
As the “feasibility study”, the Ministry of Economy, Trade and Industry (METI), Government of Japan selected a consortium, comprised of Mizuho Bank and Marubeni Corporation, to study the feasibility of an infrastructure system overseas in Jhajjar, Haryana.
The consortium carried out the smart community development plan, which is the subject of the feasibility study, which involves the development of an industrial zone, commercial facilities, and housing in Jhajjar centred on the MET project, which is being carried out by Reliance Model Economic Township Limited (METL), a 100 percent subsidiary of one of India’s largest business groups, Reliance Industries Limited.
Results of the Feasibility Study
The feasibility study found that Japanese investment in the Reliance Industrial Plots Jhajjar would be beneficial.
Marubeni Corporation has taken a step forward in promoting this potential site for Japanese businesses and others.
Declaration of Intent between the Governments of India and Japan
H.E. Yoichi Miyazawa, Japan’s Minister of Economy, Trade, and Industry (METI), visited India from April 28th to 30th, 2015, accompanied by a Japanese business delegation.
H.E. Nirmala Sitharaman, Minister of State (Independent Charge) for the Ministry of Commerce and Industry in India, welcomed his visit.
Both Ministers congratulated each other on the successful outcome of the “India-Japan Public Private Investment & Trade Promotion Policy Dialogue” and affirmed that the “List of Actions” presented by the business delegation will greatly contribute to the realization of “Make in India”.
They affirmed their commitment to achieve investment targets agreed in their respective “Tokyo Declarations for Japan-India Special Strategic and Global Partnership” (Tokyo Declarations) on September 1, 2014, by the Prime Ministers of India and Japan.
The two countries agree that strengthening Indo-Pacific economic ties through cooperation in an inclusive investment and trade regime is critical for both countries’ and the region’s future development and prosperity.
“Japan Industrial Townships in India” are being developed.
In order to facilitate Japanese investment in India, the two countries agreed to take steps to develop “Japan Industrial Townships in India,” particularly in the Delhi Mumbai Industrial Corridor (DMIC) and Chennai Bengaluru Industrial Corridor (CBIC) regions. They identified 11 potential sites for “Japan Industrial Townships in India” in this regard.
JIT Investment Incentives
Based on the Tokyo Declaration, both Ministers reiterated the two countries’ intention to develop “Japan Industrial Townships” and other industrial townships in India with investment incentives for companies that would not be lower than under the current policy framework, such as Special Economic Zones (SEZ), National Investment and Manufacturing Zones (NIMZ).Both Ministers stated their desire to expedite the development of world-class infrastructure for “Japan Industrial Townships.”.
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