Indian Economy News

India’s Department for Promotion of Industry & Internal Trade (DPIIT) and Japan’s (Ministry of Economy, Trade and Industry (METI) jointly review the progress of Japanese Industrial Townships (JITs) in India

For the annual evaluation of progress under the Japanese Industrial Townships (JITs) in India, India (Department for Promotion of Industry & Internal Trade (DPIIT)) and Japan (Ministry of Economy, Trade and Industry (METI)) conducted a joint meeting. From the Japanese side, the Japanese Embassy in India and the Japan External Trade Organization (JETRO) took part. From the Indian side, officers from the Ministry of External Affairs, the Government of India, the Indian Embassy in Tokyo, and representatives from state governments and Invest India were present.

To invite investment, Japanese businesses were invited to visit the JITs physically. Particular emphasis was put on the JITs in the Delhi Mumbai Industrial Corridor (DMIC) and Chennai Bengaluru Industrial Corridor (CBIC) regions.

Japan is the only country in India with specialised industrial townships. Unique Japan desks for translation and facilitation support, world-class infrastructural facilities, plug-and-play facilities, residential clusters, and special incentives for Japanese enterprises are all available at these Japanese Industrial Townships (JITs). 
Currently there are 114 Japanese companies across the JITs. Japanese companies have also filed for and been approved for various PLI schemes that were introduced by the government across 14 sectors.
 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.