Department for Promotion of Industry & Internal Trade (DPIIT) of India and Ministry of Economy, Trade and Industry (METI) of Japan held annual meeting to review the progress under Japanese Industrial Townships (JITs) in India.
Key Facts
- DPIIT and the States presented developed infrastructure and land readily available for Japanese investors in these townships.
- Japanese companies were invited for field visits to JITs, in order to attract investments.
- DPIIT reviewed the status of JITs with METI, in a virtual platform in light of COVID-19 pandemic.
- From Japanese side, Embassy of Japan in India and Japan External Trade Organization (JETRO) also participated.
- From Indian side, Officers from Ministry of External Affairs, Embassy of India in Tokyo and representatives of Invest India as well as representatives of State Governments took part in meeting.
Why was JIT set up?
Japan Industrial Townships (JITs) were set up in accordance with “Action Agenda for India-Japan Investment & Trade Promotion and Asia-Pacific Economic Integration”, which was signed between METI (Japan) and DPIIT (India) in April 2015. This action agenda was signed to take steps for developing “Japan Industrial Townships” in India, specifically in Delhi Mumbai Industrial Corridor (DMIC) and Chennai Bengaluru Industrial Corridor (CBIC) regions, with the objective of increasing Japanese investment to India.