After Rajasthan, investors from Japan
can look at Odisha
to set up shop as the government has identified 600 acres of land near Bhubaneswar to woo Japanese firms.
“The land that we have identified is proposed to be developed as a multi-product park where companies from Japan
can come and set up their units. During our recent visit to Japan, we showcased our industry-friendly policies and the incentives we offer to investors. We are prepared to review the wishlist of the interested Japanese companies and provide them with the necessary facilitation and support”, said Sanjeev Chopra, principal secretary (industries) with the Odisha
A delegation from Odisha
along with the industry body Confederation of Indian Industry (CII) visited Japan
last week and staged roadshows in Tokyo and Osaka. The delegation met some of the top-notch corporations in Japan
with a turnover in the range of $50-60 billion.
Chopra declined to name the companies as the discussions were in initial stages and no investment
intent was announced by the Japanese companies. Odisha
has hardly seen major Japanese investments with the exception of Indo Nissin Foods, a subsidiary of Japan-based Nissin Foods. The company, in January 2014, commissioned its factory at the Khurda food park on Bhubaneswar’s outskirts, its third in the country, at an investment
of Rs 100 crore.
In Rajasthan, around 1,100 acres has been earmarked for Japanese firms.
Some of the most-sought after Japanese firms
Motor Corporation, Hitachi
Industries have clustered there and enjoy facilities like streamlined approval process and uninterrupted power supplies.
Japan’s Foreign Direct Investment
(FDI) in India has been expanding as it touched $3.5 billion in 2016. Also, Japan
is India’s 10th largest trading partner with the two-way trade valued at $14.5 billion in 2016.
Odisha, which is positioning itself as the manufacturing hub of the east, has been promoting its investor-friendly image at multiple roadshows across the country and abroad. The state’s key manufacturing zones in the offing are the National Investment
& Manufacturing Zone (NIMZ) developed at Kalinganagar near Jajpur, the electronics manufacturing cluster at Infovalley near Bhubaneswar, Petroleum, Chemicals & Petrochemicals Investment
Region (PCPIR) at Paradip and a port-based investment
zone near Adani Group-controlled Dhamra port. Apart from this, the state government has planned a plastic park at Paradip and an aluminium park at Angul jointly promoted by state-owned Odisha
Industrial Infrastructure Development Corporation (Idco) and National Aluminium Company (Nalco).