By 2027, Japanese businesses plan to invest a combined 5 trillion yen in India, according to Dr. Yasukata Fukahori, the consul general of Japan in Mumbai. He was in Ahmedabad to officially open the Japan Cultural Centre at the AMA.
“Being Prime Minister Narendra Modi’s home state and the birthplace of corporate giants like Adani and Reliance Group, Gujarat will certainly be a preferred destination in India for Japanese companies to make investments. It is the second largest exporting state after Maharashtra and better port connectivity will only aid manufacturing companies from Japan,” Fukahori said.
He claims that Gujarat is home to at least 150 Japanese businesses, 50 of which are located in Ahmedabad.
“Several Japanese manufacturing units are looking to shift base out of China as it is difficult to sustain operations there. In such a situation, India is the next best option available to Japanese firms to set up their manufacturing facilities. As far as Gujarat is concerned, automobiles, chemicals and electric appliance manufacturing will be the key sectors which will attract investments from Japan,” he added.
“We are also looking at GIFT-IFSC for investments in the fintech sector. GIFT City already has the presence of Japanese banks which are operating their IFSC banking units from there,” he added.
Speaking about the Japan Cultural Centre, Mukesh Patel, president, Indo Japan Friendship Association (IJFA), said, “Over the years, the Japan Centre at AMA has enjoyed widespread recognition and goodwill for their vision and mission of making Gujarat the mini-Japan of India. The Japan Cultural Centre is expected to serve as a catalyst in further strengthening the bond between Japan and India, particularly Gujarat.”