TN to sign MoU with Kanagawa Perfecture of Japan

Chennai: Tamil Nadu would sign a memorandum of understanding (MoU) with the Kanagawa Prefecture of Japan for greater economic co-operation between the two regions, according to Industries secretary Dr N Sundaradevan. Addressing a Seminar on ‘Opportunities for Business Co-operation between Tamil Nadu State and Kanagawa Prefecture’, organised by the Confederation of Indian Industry (CII) and the Japan External Trade Organisation (JETRO) on Monday, he said the state government has already signed such an MoU with the Hiroshima Prefecture. Kanagawa has played key role in the development of Japanese economy and it is home for many of the leading Japanese companies like Nissan. The prefecture was also blessed with abundant natural resources. Dr Sundaradevan said co-operation between Tamil Nadu and Kanagawa was possible in areas like plastics and rubber processing, machine tools, industrial machinery, electronics and products, and environmental technology. Japan looks at India as a frontier in future with a strength in technology. Besides automobiles, the Japanese companies have diversified investments into areas like pharmaceuticals, home electronics, life and non-life insurance and telecommunication, Dr Sundaradevan said. Shinya Fuji, Director General, JETRO Chennai, said the maximum accumulation of Japanese enterprises in India were in Tamil Nadu. “There has been a four-fold increase from 77 companies in 2008 to 286 in 2012,” he said. Highlighting the role played by the Confederation of Indian Industry in promoting Indo-Japanese business relationship, he said this month-end a CII delegation would be visiting Japan. Yuji Kuroiwa, governor of Kanagawa Prefecture, M Velmurugan, IES, Executive Vice-Chairman, Guidance Bureau, Masanori Nakano, Consul General of Japan, Yuji Sanada, director, JETRO Chennai, and R Dinesh, chairman of CII Tamil Nadu State Council were present during the occasion.