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Tamil Nadu Govt. signs MoU with Hiroshima for mutual economic cooperation Print E-mail
Written by Krishna Kumar   
Wednesday, 10 November 2010
Collaboration in Technology & Research key to enhance growth.

Chennai: A Memorandum of Understanding (MoU) was signed by the Tamil Nadu government and the Japanese prefecture of Hiroshima to promote economic cooperation between the two regions.

"With a growing cultural and economic ties, both Hiroshima and Tamil Nadu have great potential for cooperation in R & D and technology in high growth sectors" said Hidehiko Yuzaki, Governor, Hiroshima Prefectural Government in his address at the India -Hiroshima Prefecture Business Matching Seminar 2010 organized by Confederation of Indian Industry (CII), here today.

Signed in the presence of M K Stalin, deputy chief minister of Tamil Nadu and Hidehiko Yuzaki, Governor, Hiroshima Prefectural Government, the MoU is expected to encourage Japanese investment in Tamil Nadu and increase people to people networking.

Yuzaki, who is leading a 30-member delegation from Japan, is on a four-day visit to explore investment possibilities in auto components, food processing and environment sectors in Tamil Nadu.

Deputy chief minister Stalin informed the delegation that the TN government proposed to establish a Japanese industrial cluster near Chennai to attract more Japanese medium-sized companies.

As an economic nerve centre and a gateway to Japanese market, Hiroshima offers Indian industry opportunities for collaboration in developing modern technologies in aerospace, automobiles, robotics, environment and energy sectors said Yuzaki.

M Velmurugan IES, Executive Vice Chairman, Industrial Guidance and Export Promotion Bureau, Government of Tamil Nadu in his presentation on ‘Investment Climate in Tamil Nadu’ said that Tamil Nadu is the 3rd largest economy in India and also ranks third in attracting foreign direct investment.  With a total installed capacity of 1.3 million cars per year, Chennai is all set to emerge as one of the top 10 global automobile manufacturing centres, said Mr Velmurugan. Velmurugan said that currently 3000 foreign companies have their presence in Tamil Nadu and the number of Japanese companies in the State will cross 300 in the next six months, he added.

Governer Hidehiko Yuzaki acknowledged that there is enormous potential for mutual economic cooperation between the two regions considering the advantages of Tamil Nadu including availability of human resources, access to customers both domestic and international, ports and others.He said that the Japanese Government is  planning an industrial corridor in South India and senior officials would visit  TN to sign a MoU for the industrial corridor.

According to Yuzaki nine Hiroshima Prefecture companies are already present in India of which four are operational in Tamil Nadu.They are : construction equipment maker Kobelco, rice mill equipment company Satake, pesticide maker Fumakida and precision machinery company Mitsuoyo. In addition to industrial investments, the delegation will meet officials at Anna University to promote student exchange programs between the two regions.

Venu Srinivasan, Vice Chairman, Tamil Nadu State Manufacturing Competitiveness Council & Immediate Past President, CII said that India and Japan have embarked on a new era in their economic partnership over last few years and it is important for India to attract substantial Investment from Japan to sustain a high rate of economic growth and employment generation.

India, with a rapidly growing middle-class, huge demand for high-technology goods and infrastructure, and one of the world’s largest endowments of young skilled workers is thus a perfect match for Japan as an economic partner, said Srinivasan.

He said that Japan accounts for a modest 1.8% of Indian exports and 2.5% of the imports and hence there is a huge opportunity for both India and Japan to enhance the bi-lateral trade.

Talking about CII engagement with Japan, Srinivasan said that CII has had a long and deep partnership with Japanese quality institutions in its pioneering quality movement, which has succeeded in infusing a culture of quality in Indian industry. Today we have 152 TPM awards of Japan Institute of Plant Maintenance, 20 companies who have got the Deming Prize for Total Quality Management and 2 who have been a recipient of the Japan Quality Model, said Mr Srinivasan.

Gayathri Sriram, Convenor, CII Tamil Nadu Women Empowerment Panel & Managing Director, Ucal Auto Pvt Ltd said that Indo-Japan economic collaboration has been crucial to our development process in the past and trade between the two countries remained stable despite the global recession. 

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