Sumitomo Corporation, a Japan-based trading and investment company, has signed a memorandum of understanding (MoU) with the Osaka Prefectural Government, the Osaka Business Development Agency, and Mahindra Industrial Park Chennai Ltd. (MIPC) to assist Osaka-based companies looking to establish operations in India. The partnership aims to provide consultation services, facilitate site visits in Tamil Nadu, and promote information exchange to support investment activity.
The agreement is part of broader efforts to deepen economic ties amid India’s projected real GDP growth of 6.3 percent for FY2025, according to the World Bank’s South Asia Economic Focus report released in April 2025. With a population of over 1.4 billion, India continues to attract growing interest from global investors, including companies from Japan.
MIPC operates the Origins by Mahindra World City industrial park in North Chennai, located approximately 37 km from the city center. Phase I of the park spans 124 hectares and hosts 16 manufacturing companies, including six from Japan. An additional 54 hectares under Phase II are currently being developed. The site is strategically positioned along National Highway 16, offering one-hour access to Chennai’s central business district and the international port.
MIPC was established in 2019 as a joint venture between Sumitomo Corporation, which holds a 40 percent stake, and Mahindra World City Developers Ltd., which holds 60 percent. The industrial park benefits from proximity to a skilled manufacturing workforce and nearby science and engineering institutions.
This latest agreement builds on previous collaborations between Sumitomo Corporation and the Osaka Prefectural Government, including similar initiatives to support business expansion into the Philippines and Vietnam. Under the new framework, the parties may also support expansion into other markets, depending on the individual needs of participating companies.
Sumitomo Corporation is a Japan-based integrated trading and investment company with a presence in ten industrial parks across six Asian countries. Its operations span multiple sectors, including infrastructure, energy, chemicals, and transportation.
