JAPAN Industrial Township confirmed Reliance Industrial Plots Jhajjar

When His Excellency Mr Kenji Hiramatsu, Ambassador Extraordinary and Plenipotentiary of Japan to India, made a scheduled visit to the Reliance Model Economic Township (MET) Project site on the 7th March 2016, immediately after having addressed the gathering at the Inaugural Ceremony of the Global Investors Summit 2016 of “Happening Haryana” event. 

He spent over two hours interacting with METL members, Marubeni Corporation and Mizuho Bank representatives, and inspecting the proposed site of the “Japan Industrial Township in India” within the MET project area. He expressed confidence in Japanese investment in the MET project area’s JIT site. 

Japanese Consortium's Feasibility Study for Japan Industrial Township at Reliance MET

The Ministry of Economy, Trade, and Industry (METI), Government of Japan, selected a consortium consisting of Mizuho Bank and Marubeni Corporation for a project referred to as the “feasibility study” to survey the feasibility of infrastructure system overseas development in the Jhajjar district of Haryana state in India.  

The consortium conducted the smart community development plan, which is the subject of the feasibility study, concerns the development of the industrial zone, commercial facilities, and housing in Jhajjar centred on the MET project, undertaken by Reliance Model Economic Township Limited (METL), a 100% subsidiary of Reliance Industries Limited, one of India’s largest business groups. 

The Feasibility Study's Findings

The feasibility study found that Japanese investment in the Reliance Industrial Plots Jhajjar would be beneficial. Marubeni Corporation has taken a step forward in promoting this potential site for Japanese businesses and others. 

Declaration of Intent between the Governments of India and Japan

H.E. Yoichi Miyazawa, Japan’s Minister of Economy, Trade, and Industry (METI), visited India from April 28th to 30th, 2015, accompanied by a Japanese business delegation. 

H.E. Nirmala Sitharaman, Minister of State (Independent Charge) for the Ministry of Commerce and Industry in India, welcomed his visit. 

The two Ministers praised the successful outcome of the “India – Japan Public Private Investment & Trade Promotion Policy Dialogue” and stated that the business delegation’s “List of Actions” will significantly contribute to the realisation of “Make in India.”  

They also reaffirmed their commitment to achieving the investment targets set out in the “Tokyo Declaration for Japan-India Special Strategic and Global Partnership” (Tokyo Declaration) signed by India’s Prime Minister, H. E. Narendra Modi, and Japan’s Prime Minister, Shinzo Abe. 

The two countries agree that strengthening Indo-Pacific economic ties through cooperation in an inclusive investment and trade regime is critical for both countries and the region’s future development and prosperity. 

Eco-Friendly Property Selection

A better quality of life is provided by better surroundings. The demand for green society is increasing as homebuyers focus on reducing water and energy consumption. Developers should include rainwater harvesting, waste management, solar panels, and other features in their projects. With people spending the majority of their time indoors, providing larger balcony spaces with more greenery would also be beneficial, helping to increase green areas. 

"Japan Industrial Townships in India" are being developed.

In order to facilitate Japanese investment in India, the two countries agreed to take steps to develop “Japan Industrial Townships in India,” particularly in the Delhi-Mumbai Industrial Corridor (DMIC) and Chennai Bengaluru Industrial Corridor (CBIC) regions. They identified 11 potential sites for “Japan Industrial Townships in India” in this regard. 

Reliance Industrial Plots in NCR, Haryana was one of the 11 sites. 

The two Ministers emphasised the importance of creating “Japan Industrial Townships in India” with the help of state governments. The Department of Industrial Policy and Promotion (DIPP) and the Ministry of Economy, Trade, and Industry of Japan (METI) expected “Japan Plus” to play a significant role in coordinating the development of “Japan Industrial Townships” in an integrated manner. 

Minister Miyazawa stated that METI and Japan External Trade Organization (JETRO) will use all available tools, including facilitation and coordination, and that JETRO will play a critical role in improving the investment and trade environment for Japanese enterprises through “Japan Industrial Townships in India.” 

Minister Sitharaman welcomed METI and JETRO’s renewed commitment to increasing investment and trade between Japan and India. 

JIT Investment Incentives

Based on the Tokyo Declaration, both Ministers reiterated the two countries’ intention to develop “Japan Industrial Townships” and other industrial townships in India with investment incentives for companies that would not be lower than under the current policy framework such as Special Economic Zone (SEZ), National Investment and Manufacturing Zone (NIMZ). Both Ministers stated that they intend to speed up the development of world-class infrastructure for “Japan Industrial Townships.”