Chennai:
Japan is planning to fund three industrial hubs each in three southern states, including Tamil Nadu, and the process of selection has already begun, according to Japan International Cooperation Agency Ichiguchi Tomohide.
Talking to reporters here on Friday, Tomohide said that the initiative is part of the development of Chennai Bangalore Industrial Corridor (CBIC).
“We were preparing a master plan on October last year. JICA has now completed the perspective plan. Now we are in the process to select the ‘Nodes’ (business hubs). Each southern state would get funds for only one ‘Node’. The ‘Nodes’ will be finalized by March,” he added.
By next financial year, each business hub or Node will have a master plan. The business hub would focus primarily on manufacturing. The idea is also to have more investment by Japanese companies, he said.
He said the business hub would have around 100 to 200 square kilometer of land and land availability would be a criteria for choosing the hub.
He also said that Japanese companies are now getting out of China and focusing on Thailand, Vietnam and Indonesia. “The investment in India is smaller but companies are looking at the possibility of making India the hub for exports to Africa. Many Japanese firms are looking to invest in both domestic as well as exports from India,” he said.
He also said Tamil Nadu, which has till now received Rs 18,000 crore funds from JICA, could emerge as the largest recipient of Japanese loans. Currently, Andhra Pradesh is largest recipient of AP aid. It has till now got aid worth Rs 24,000 crore approximately.
He also said that Tamil Nadu government along with JICA is holding a two-day seminar on ‘Sustaining Forests and Livelihood through Joint Forest Management’ on Monday. A total of 100 participants from 18 states are participating in the event.
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