CHENNAI: Tamil Nadu would sign a memorandum of understanding (MoU) with the Kanagawa Prefecture of Japan for greater economic co-operation between the two regions, according to Industries secretary Dr N Sundaradevan.
Addressing a seminar on ‘Opportunities for Business Co-operation between Tamil Nadu State and Kanagawa Prefecture’, organised by the Confederation of Indian Industry (CII) and the Japan External Trade Organisation on Monday, he said the state government has already signed such an MoU with the Hiroshima Prefecture.
Kanagawa has played key role in the development of Japanese economy and it is home for many of the leading Japanese companies like Nissan. The prefecture has also been blessed with abundant natural resources.
Sundaradevan said co-operation between TN and Kanagawa was possible in areas like plastics and rubber processing, machine tools, industrial machinery, electronics and products, and environmental technology.
Japan looks at India as a frontier in future with a strength in technology. Besides automobiles, Japanese companies have diversified investments into areas like pharmaceuticals, consumer electronics, life and non-life insurance and telecommunication, Sundaradevan said.
Shinya Fuji, director general, JETRO Chennai, said the maximum accumulation of Japanese enterprises in India were in TN. Highlighting the role played by the CII in promoting Indo-Japanese business relationship, he said by May-end a CII delegation would be visiting Japan.
Yuji Kuroiwa, governor of Kanagawa, M Velmurugan, IES, executive vice-chairman, Guidance Bureau, Masanori Nakano, consul general of Japan, Yuji Sanada, director, JETRO Chennai, and R Dinesh, chairman of CII TN State Council were present at the meeting.