Japanese business delegation meets UP CM Yogi Adityanath to discuss new investment proposals

Lucknow (Uttar Pradesh) [India], November 3 : A delegation of Japanese entrepreneurs led by Japanese Ambassador Hiroshi Suzuki met with Uttar Pradesh Chief Minister Yogi Adityanath on Friday to discuss new proposals, said a press release by CMO on Friday.
During the special meeting, Yogi Adityanath said, "The relations between India and Japan have always been friendly and there is mutual harmony, growing bilateral trade, and all-round cooperation between the two countries."
He further mentioned that both countries are large economies and have democratic, secular, and pluralistic systems with common socio-economic development priorities as well as world-class strategic visions.
Referring to the ancient cultural ties between India and Japan, the Uttar Pradesh CM highlighted that India and Japan have had strong cultural ties for centuries due to the spread of Buddhism, resulting in a strong common identity between the Indian and Japanese people.
According to the official release, he also mentioned numerous religious sites associated with the life of Lord Buddha in Uttar Pradesh, including Kapilvastu, Sarnath, Sankisa, Shravasti, and Kushinagar, which are the major centers of faith for Buddhists.
Discussing the world-class convention center built in Varanasi with the cooperation of Japan, Yogi said, "Prime Minister Narendra Modi and former Prime Minister of Japan Late Shinzo Abe's close ties have taken India-Japan political, economic, and business relations to new heights in the modern era."
"Uttar Pradesh has favorable opportunities for investment in every sector," said Yogi Adityanath.
The press release also mentioned that the UP chief minister enthusiastically discussed the vast potential for industrial investment in Uttar Pradesh with Japanese entrepreneurs, expressing the state government's eagerness to collaborate with Japanese companies.
According to the official release, presently, over 1,400 Japanese companies are operating in India, with seven major ones being Matsui Technologies, Honda Motors, Yamaha Motors, Denso, Toyo Ink, Nissin ABC Logistics, and Sekisui DLJM Molding--established within the state of Uttar Pradesh.
The state received substantial support from Japan as the partner country of GIS-2023.
CM Yogi, during the meeting, further said, "Our government is rapidly developing industrial parks, centres of excellence, and research and development centers in the state. Japan Industrial Township is included under the Integrated Industrial Township being developed on 750 acres in Greater Noida. Apart from this, Medical Device Park, Film City, Toy Park, Apparel Park, Handicraft Park, Logistics Hub, and other things are being developed near Noida International Airport along the Yamuna Expressway in the National Capital Region."
"Other projects include the Mega Food Park in Bareilly, Trans-Ganga City in Unnao, the Plastic Park in Gorakhpur, the Garment Park in Gorakhpur and the Defence Industrial Corridor," he added.
The Uttar Pradesh CM also mentioned government subsidies under more than 20 sectoral policies as well as its new industrial policy.
"We have made special policies for many sectors, like electronics, solar, bio-fuel, food processing, logistics, electric vehicles, dairy, etc. These policies, which include exemptions in stamp duty and electricity duty, exemptions in land value, capital subsidies, refunds of net SGST, etc., are attractive incentives for our Japanese investors. Apart from this, the state government has also announced an incentive policy for 'Fortune Global 500' and 'Fortune India 500' companies," said Yogi.
Emphasising Uttar Pradesh's status as India's most populous state, the state Chief Minister pointed out its abundant human resources, skilled labour force, and vast consumer market.
The state, often referred to as the 'Food Basket' of India, offers significant investment opportunities in agriculture, food processing, and dairy sectors.
Varanasi is the hub of India's major textile centers including the silk cluster and tourism is also a priority sector, which can be a good destination for investors in Uttar Pradesh.
The press release also mentioned that the Japanese Ambassador Hiroshi Suzuki, leading the Japanese delegation in the meeting, praised the vast opportunities for industry and trade in Uttar Pradesh, the state's infrastructure development efforts, and the Chief Minister's leadership.
He stated that Japanese investors are enthusiastic about the policies in place, and this enthusiasm is expected to further elevate the strong relations between India and Japan.
Chairman and MD of Kubota Agricultural Machinery, India, Nikhil Chandra, expressed his interest in setting up Escorts Kubota Farm Institute at Chandrashekhar Azad Agricultural University, Kanpur.
In addition to the Japanese Ambassador, the special meeting was attended by Kentaro Orita (Political Counsellor of the Japanese Embassy), Saito Mitsunori (Chief Representative of Japan International Cooperation Agency), and multiple other delegates.