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METI Concluded an MOC with the State Government of Maharashtra, India on Industrial Cooperation

On September 11, 2015, Mr. Yoichi Miyazawa, Minister of Economy, Trade and Industry, held a meeting with Mr. Devendra Fadnavis, Honorable Chief Minister of Maharashtra, India, and both sides signed a Memorandum of Cooperation (MOC) on Industrial Cooperation in Maharashtra.
The conclusion of this MOC is part of a broader effort to achieve the goal of doubling Japan’s foreign direct investment and the number of Japanese companies in India in five years, which was agreed at the Japan-India Summit Meeting in September 2014. This is the third initiative between the METI minister and the chief minister of a state in India, following those with Andhra Pradesh and Rajasthan.

Maharashtra has its capital in Mumbai, which is the largest city in India, and the state’s economy, driven by service industries such as finance and IT and industries such as transport machinery, boasts the highest GDP among the states of India. In addition, Maharashtra is a major state in the Delhi-Mumbai Industrial Corridor (DMIC) and the gateway to the sea for northern India as India’s largest port is located in Mumbai, which has led to its extremely high economic growth rate. Thus, Maharashtra is the state where Japanese companies are developing their business the most.

In Maharashtra, located in this favorable environment, it was announced on September 11, 2015 that properties in Supa Industrial Park, which is located in the state and designated as one of 11 candidate sites for Japan Industrial Townships, will be put on the market. The promotion of the development of Supa Industrial Park is an important effort for the realization of the “Make in India” campaign initiated by the Modi administration because its location is in the suburbs of Pune, where transport machinery industries such as the manufacture of motor vehicles and their parts are clustered. Maharashtra Chief Minister Fadnavis has gained wide support from the public, assuming the office of chief minister of the state in October 2014 at the exceptionally young age of 44, and also he is said to be trusted by the Indian Prime Minister Narendra Modi. Thus, his strong leadership is expected for Maharashtra’s further economic growth.

The MOC includes the following points: METI and the Japan External Trade Organization (JETRO) will support Japanese companies in developing their business in Maharashtra; the state government of Maharashtra will improve the business environment including through the development of Supa Industrial Park for Japan Industrial Townships to meet global standards through the introduction of incentives and infrastructure development; and Japanese governmental organizations and the State Government of Maharashtra will launch a policy dialogue among themselves for the development of the business environment. The conclusion of this MOC is expected to further accelerate Japanese companies’ development of their business in Maharashtra.

Release date

September 11, 2015

Division in charge

Southwest Asia Office, Trade Policy Bureau

Related Information

Regional Affairs / India

Ministry of Economy, Trade and Industry
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