Sumitomo Corp looks at setting up industrial parks in India

Japanese industry major Sumitomo Corporation is looking at setting up industrial parks in India, in the wake of the recent inflow of Japanese companies into India.

It is looking at various places, especially where Japanese companies are concentrated, to set up these parks, said Katsuya Okihiro, chairman and managing director, Sumitomo Corporation India Pvt Ltd.

"We are looking at starting industrial parks in various countries, including in India," he said at a conference on Vision Tamil Nadu: Sustainable Infrastructure Development, organised by the Confederation of Indian Industry here.

In India, it is looking at places including Haryana, Pune and Chennai. However, he said the plans were in a nascent stage and could not comment more at present.

Sumitomo Corporation has a division to handle Overseas Industrial Park Development. The company owns and operates industrial parks in Vietnam, Philippines and Indonesia, at present.

The major investors in some of these industrial parks are the Japanese industrial majors.

While the company has been present in India for the past several years, the operations of industrial parks have been constrained to the Asean countries. Okihiro said things had changed in the last couple of years and several Japanese companies had started coming to India to set up their operations. This has led them to think about setting up industrial parks here.