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JAPANESE companies may take the route of Singapore government-funded infrastructure facilities to invest in India, a Japanese government official told SundayET.
Many such companies which were waiting for the massive $90 bn Delhi Mumbai Industrial Corridor (DMIC) to come up, found that the project became almost a non-starter during the last government's tenure. Only a few early bird projects within the corridor finally received a go-ahead before the general elections.
Japan external trade organisation (Jetro) has now entered into an understanding with government-owned International Enterprise (IE) Singapore, whereby Singapore government would build infrastructure facilities in India for the use of Japanese companies. While talking to SundayET, Jetro's India head Naoyoshi Noguchi confirmed that they had initiated talks with IE Singapore which has already set up the Bangalore IT park.
"Japanese companies trust Singapore's ability to build world-class infrastructure facilities. If states in India give us land at reasonable price and help us in executing those, Japanese companies would give firm commitment to invest," he said.
He, however, did not divulge any detail of the nature of such facilities as they were yet to get a green signal from the new government in India. Also, they have not finalised the places where such facilities may come up as discussions with state governments have just begun. IE Singapore is the lead agency under the ministry of trade and industry which is the nodal ministry for the development of Singapore's external economic wing.
shantanu.sharma@timesgroup.com
Many such companies which were waiting for the massive $90 bn Delhi Mumbai Industrial Corridor (DMIC) to come up, found that the project became almost a non-starter during the last government's tenure. Only a few early bird projects within the corridor finally received a go-ahead before the general elections.
Japan external trade organisation (Jetro) has now entered into an understanding with government-owned International Enterprise (IE) Singapore, whereby Singapore government would build infrastructure facilities in India for the use of Japanese companies. While talking to SundayET, Jetro's India head Naoyoshi Noguchi confirmed that they had initiated talks with IE Singapore which has already set up the Bangalore IT park.
"Japanese companies trust Singapore's ability to build world-class infrastructure facilities. If states in India give us land at reasonable price and help us in executing those, Japanese companies would give firm commitment to invest," he said.
He, however, did not divulge any detail of the nature of such facilities as they were yet to get a green signal from the new government in India. Also, they have not finalised the places where such facilities may come up as discussions with state governments have just begun. IE Singapore is the lead agency under the ministry of trade and industry which is the nodal ministry for the development of Singapore's external economic wing.
shantanu.sharma@timesgroup.com
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