MIDC proposes exclusive industrial zone for Japanese manufacturers

The Japan External Trade Organization, JETRO, an official promotion body for trade and investment, has undertaken an initiative to boost bilateral trade and investment between India and Japan. In order to promote Maharashtra as a major investment destination, JETRO Mumbai signed a memorandum of understanding (MoU) with Maharashtra Industrial Development Corporation ( MIDC), supporting them to develop the new industrial zone in Pune exclusively for Japanese manufactures.

JETRO Mumbai believes that Pune, being home to large automobile companies such as Tata Motors, Bajaj Auto, Mahindra Two-Wheelers, Force Motors and international auto giants such as Mercedes-Benz, General Motors, Volkswagen and Fiat etc, is a potential area for auto components sourcing.

A delegation comprising of 25 Japanese auto component companies and affiliates participated at the event to explore investment, trade and technical alliance related opportunities. Several auto part manufacturing companies, including, BEST Corporation, Yamaha Corporation, Panasonic Automotive Systems India, Toyo Ink India were part of the event to discuss market development of automobile parts.

In addition, several Japanese auto companies such as Suzuki Motors, Honda Motor Company, Toyota India have sizeable presence in India, and establishment of Japanese auto component units in Pune will largely facilitate international auto majors to bring down import dependency and vastly help them source auto parts from the proposed industrial zone.