INRnews - Indian Real Estate News

In an interaction with Japanese delegation of leading entrepreneurs and promoters in New Delhi organized by FICCI, Modi offered that his government would facilitate land acquisition for SEZ projects. He also pointed out that the units located in SEZ have total Labour laws flexibilities under State SEZ Act, which is available only in Gujarat.

He presented the vision and initiatives of comprehensive development of the state stating that he considered Gujarat to be similar to Japan In Asia. Japan is a small country but has emerged as a strong and powerful economic force of the world. “Likewise, Gujarat, a small state in India, has became a very strong growth engine of nation’s economy”, he said.

Modi said that Gujarat was not new to Japan as there were about 44 projects with technical collaboration from Japan. Of these six have already been commissioned, while 18 projects wherein Foreign Direct Investment from Japan have been commissioned. The presence of number of Japanese companies in Gujarat including Hitachi, Novino and sumitomo indicates preference of Japanese industries for Gujarat. As a pioneer state in SEZ, LNG port terminals, gas and petroleum sector and manufacturing and engineering industries, Gujarat offers new sectors for investments with infrastructural initiatives, said Modi.

He said that Gujarat Government had initiated exercise of public private partnership for the port-led development. It is the only state in India where industries get uninterrupted power and ensured of 24 hours electricity to all 18000 villages. With two LNG land fall point terminals at Hazira and Dahej port and 22, sanctioned SEZ, Gujarat’s coastline will not only be gateways for goods and services for the hinterland States of India but Gujarat’s ports will open a new vista for global trade, he assured the Japanese delegates.

Asserting that Gujarat has stronghold in drug and pharmaceutical and textile industries, the Modi asked Japanese industries to consider collaborating with pharma and chemical industries in Gujarat for financing and technical tie-ups. He also invited Japan industrialists to develop Ship-building projects. Modi also invited Japanese companies and investors to visit Gujarat and participate in global investor’s summit 2007 to be held in Ahmedabad during January 2007.