Daikin to invest ₹1,000 cr in Haryana, Kubota to infuse ₹2,000 cr

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Japanese conglomerate Daikin will invest Rs 1,000 crore in Haryana to set up a research and development (R&D) centre which will focus on the development of advanced technologies and sustainable industrial solutions, the state government said on Wednesday.

A Memorandum of Understanding (MoU) was signed in Osaka, Japan in the presence of the state Chief Minister Nayab Singh Saini, who along with a high-level delegation is on an official visit to the country from October 6-8.

Under this agreement, Daikin Industries Limited will invest Rs 1,000 crore in Haryana to establish a new R&D centre, which will generate employment opportunities for the youth, a state government statement said here.

The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Department of Industries and Commerce, Haryana, and Shogo Endo, Deputy Managing Director, Daikin Industries Limited.

The Haryana delegation members include Industries and Commerce Minister Rao Narbir Singh, Chief Principal Secretary to Chief Minister Rajesh Khullar, Principal Secretary to Chief Minister Arun Kumar Gupta, Haryana State Industrial & Infrastructure Development Corporation Managing Director Yash Garg, and other senior officials.

Saini said his government is committed to promoting innovation, research, and advanced manufacturing in the state, and Daikin's investment will not only generate employment but also play a significant role in connecting Haryana with the global technology network.

This partnership will not only strengthen the state's industrial capacity but also help establish Haryana as a "Global Innovation Destination", the statement said.

Senior officials from Daikin stated that the R&D centre to be established in Haryana will be one of the company's key research facilities. It will further strengthen bilateral relations and business activities between Haryana and Japan.

Meanwhile, the state delegation also visited Kubota Tractor Plant in Osaka on Wednesday.

During the visit, the chief minister met senior officials of the company and held detailed discussions on potential investment and opportunities for technical collaboration in the agricultural equipment manufacturing sector in Haryana.

During the meeting, Kubota Company announced an investment of Rs 2,000 crore in Haryana in collaboration with Escorts, the Haryana government statement said.

This investment by Kubota will prove to be a major step forward for both the industrial and agricultural sectors of Haryana. It will not only bring modern agricultural technology to the state but also create numerous employment opportunities for local youth, it said.

The chief minister invited the company to invest in Haryana and set up a local manufacturing unit. Kubota officials expressed keen interest in investing in Haryana.

The delegation shared information about the Haryana government's industry-friendly policies, and said that simple and transparent procedures have been adopted in Haryana for setting up industries, ensuring that investors receive timely approvals.

The state government has implemented a single window system to promote "ease of doing business", enabling all necessary approvals through one platform.

Haryana's developed industrial clusters, excellent transport network, skilled human resources, and reliable power supply create a favourable environment for investors, it said.