400 Japanese firms in TN soon’

The long-standing bilateral ties between India and Japan would be further strengthened with the signing of a new economic partnership agreement, said M K Stalin, Deputy Chief Minister of Tamil Nadu.

Speaking at a function to mark the signing of the Letter of Intent (LoI) between the Tamil Nadu government and the Government of Japan under the auspices of the Confederation of Indian Industry (CII) and JETRO (Japan External Trade Organisation) here on Saturday, he said the current LoI would pave the way for the setting up of 100 more Japanese companies in the State, scaling up the number to 400 by the end of 2011.
Stalin also said that Asian giants — India, China and Japan — carried with them the grit and determination to create a new world economic order and in the process, dictate the global business initiatives.
“There are 725 Japanese companies in India, 300 of them in Tamil Nadu alone,” he said, and added, “The ambitious Chennai Metro Rail project and the Hogenakkal integrated water scheme have the backing of the Japanese government.”
Rajeev Ranjan, Principal Secretary, Industries Department, Government of Tamil Nadu, and Hidenobu Teramura, director, financial cooperation division, Ministry of Economy Trade and Industry, Government of Japan, signed the LoI and exchanged it in the presence of Stalin and the visiting Japanese delegation, led by Hideichi Okada, Vice Minister, International Affairs, Ministry of Economy Trade and Industry, Government of Japan.
T T Ashok, deputy chairman, CII SR and MD, Taylor Rubber Pvt Ltd, Shinya Fujii, director general (JETRO), Chennai, Akira Sakurai, MD and CEO, Renault Nissan Automotive India Pvt Ltd, Itaru Ishibashi, MD, Toshiba JSW Turbine and Generator Pvt Ltd, and Velmurugan, executive vice-chairman, Tamil Nadu Industrial Guidance Bureau, Government of Tamil Nadu, spoke.