Japan government firming up its promise to help Indian prime minister Modi build India's infrastructure and promote domestic manufacturing it doubles investment in India.Japan has identified 11 sites to set up Industrial townships/parks in India,which would serves hubs for investments in India.These industrial parks include Tumkur in Karnataka,Ghilot in Rajasthan,Mandal in Gujarat and Supa in Maharashtra.Japan will also provide soft skills training to Indian workers in the manufacturing sector to help bridge the demand-supply gap.Japan aims to double its investment in India to about $35 billion in next five years.The move would help bilateral economic ties between India and Japan.They are already primary investors in Indian economic corridors.This will support make in India campaign and transfer of technology.The Indian government plans to give concessions to Japanese companies in the Industrial townships what is offered to special economic zones and the proposed National Investment & Manufacturing Zones.
Special Economic Zones-SEZs are already duty free imports and 100% tax-free export income for the first five years,50% of the ploughed back export profit for the subsequent five years.NIMZs,under the national manufacturing policy,provide tax incentives to small and medium size enterprises.The development of the townships will be assisted by the respective state governments,the Department of Industrial Policy & Promotion and Japan's ministry of economic trade & industry.Japan is fourth largest foreign investor in India,contributing 7% to total FDI inflows since April 2000,according to DIPP.
By Anil Kumar Upadhyaya
Business development consultant
New York Business Consultant
Lucknow/India
email: au03976@gmail.com
Special Economic Zones-SEZs are already duty free imports and 100% tax-free export income for the first five years,50% of the ploughed back export profit for the subsequent five years.NIMZs,under the national manufacturing policy,provide tax incentives to small and medium size enterprises.The development of the townships will be assisted by the respective state governments,the Department of Industrial Policy & Promotion and Japan's ministry of economic trade & industry.Japan is fourth largest foreign investor in India,contributing 7% to total FDI inflows since April 2000,according to DIPP.
By Anil Kumar Upadhyaya
Business development consultant
New York Business Consultant
Lucknow/India
email: au03976@gmail.com
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