JRI signs “Memorandum of understanding concerning the promotion of exchange between Japan and India in the environmental and energy fields” with Pandit Deendayal Petroleum University (Gujarat State, India)
November 2, 2012
The Japan Research Institute, Limited (Headquarters: Shinagawa-ku, Tokyo; President and CEO: Junsuke Fujii; “JRI”) on November 1, 2012 signed a “Memorandum of understanding concerning the promotion of exchange between Japan and India in environment and energy-related fields” with Pandit Deendayal Petroleum University in India’s Gujarat State (“PDPU”).
1. Date of signature of memorandum
November 1, 2012
2. Japanese companies establishing operations in Gujarat State
As India’s rapid economic development continues, and against a background of active encouragement by the Japanese and Indian governments, many Japanese companies are establishing business operations in India. The state of Gujarat, in northwestern India is particularly active in attracting foreign investment and over the last 7 years has attracted more investment than any other Indian state, both from within and outside (The Associated Chambers of Commerce and Industry of India, 2012 figures), a total of some 120 trillion rupees (¥180 trillion at ¥1.5/rupee). Gujarat lies in the center of the Delhi-Mumbai Industrial Corridor, an ambitious development project aimed at creating an industrial zone, which is being pursued by the Japanese and Indian governments. Special industrial parks for Japanese companies, currently under development in Gujarat, are expected to attract companies from the automobile, electrical, telecommunications, real estate and many other industries, and economic exchange is set to grow still further in the future.
3. Purpose and content of memorandum
JRI is pursuing a range of initiatives aimed at supporting Japanese companies establishing business operations in India, but local market surveys, business viability studies, etc. reveal that, in many cases, gathering information on India’s complex laws and regulations, organizations, development projects, etc. is a time-consuming process. Against this backdrop, JRI and PDPU have signed the memorandum with a view to promoting the rapid and accurate joint collection of the latest information in these areas, and providing more effective support by building a platform that makes it possible to share the information collected. Specifically, PDPU will use its networks with local governments and enterprises to collect the most up-to-date local information. JRI will use information gathered by PDPU to offer consulting services to Japanese companies that are in the process of or planning to establish business operations in India, especially Gujarat State. JRI and PDPU are also planning to pursue joint local promotional activities including events and seminars, and research in environment- and energy-related fields, where Gujarat State’ investment policy places a particular emphasis, and in which Japanese companies are also showing a high level of interest.
JRI expects this collaboration with PDPU to facilitate access to information on India, especially Gujarat State, and believes it will play a major role in supporting the Japanese companies establishing and expanding operations in India.