Recently, a Joint Meeting was held between Government of India’s Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Economy, Trade and Industry of Japan for the annual review of progress under Japanese Industrial Townships (JITs) in India.
- DPIIT and the States presented the developed land and infrastructure readily available for Japanese investors in these townships.
- Japanese companies were invited for field visits to the JITs to attract investments.
What are Japanese Industrial Townships (JITs) ?
- Japan Industrial Townships (JITs) were set up pursuant to the “Action Agenda for the India-Japan Investment and Trade Promotion and Asia-Pacific Economic Integration” signed between two countries in April 2015.
- The agreement aims to take steps to develop “Japan Industrial Townships” in India especially in the Delhi Mumbai Industrial Corridor (DMIC) and Chennai Bengaluru Industrial Corridor (CBIC) regions in order to facilitate Japanese investment to India.
- Japan is the only country that has dedicated country-focused industrial townships across India.
- Japanese Industrial Townships (JITs) are ready to move in facilities and fully developed land available for allotment in these townships and offer facilities such as special Japan desks for translation and facilitation support among other facilities.
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