Japanese trade body sees Chennai as gateway to South-East Asia.

Chennai, May 1 Japanese companies have recognised Chennai as the new gateway to South-East Asia following the Indo-ASEAN Free Trade Agreement, according to Mr Michitaka Nakatomi, President, Japan External Trade Organisation (Jetro).

Addressing the inaugural function of the Jetro office in Chennai, he said that the trade organisation would fully support bilateral investments in a wide range of sectors including infrastructure. The office in Chennai was the fourth in the India and marks the growing importance of the State as a destination for industrial investments and FDI.

Mr Toshiyuki Shiga, COO, Nissan Motors, said that the Renault-Nissan Alliance which is setting up a car plant near Chennai will employ over 1,500 workers by May this year. Along with the six components suppliers the project will generate over 6,000 jobs.

In the first week of May, Micra, the first of the Nissan's compact car will roll out. This plant will also be the export hub for the Micra which will target markets in over a 100 countries. The company is impressed with the speed and quality of the plant here but there are issues such as road infrastructure that the Renault-Nissan Alliance cannot handle by itself.

He urged Jetro's support in facilitating Japanese companies address such challenges.

Mr Venu Srinivasan, President, Confederation of Indian Industry, said the strong ties between India and Japan is bound to grow further as Japanese companies become increasingly aware of the potential here. The Delhi-Mumbai Industrial Corridor (DMIC) project is an icon of India-Japan cooperation, he said.

According to an official press release, the Tamil Nadu Deputy Chief Minister, Mr M.K. Stalin, who addressed the Japanese delegation, said that the State Government is considering proposals for development of Chennai-Bengaluru and Chennai-Ennore Industrial Corridors. Further, there is scope for setting up of a Multi Logistic Park near Chennai and promotion of projects in several sectors like transportation, edu

Source : Business Line