More Yen for Gujarat

October 30 2018

Prime Minister Modi and his Japanese counterpart Shinzo Abe will summit once again on October 28 and 29, and it will all about money for Gujarat. Japan has recently released Rs 5,500 crore for the Bullet Train project. The coming months will see the foundation stones for many big industries being laid only in Gujarat. The tender has been issued for the major Navsari Bridge in the state. Many more such tenders are coming up.
The funds released by Japan are routed through Japan International Cooperation Agency, the rule is that at least 50 per cent such companies will have to have joint ventures with Japanese companies.
It is learnt that Japan is interested in investing in defence projects in India, and signing of a “Cross-servicing Agreement” between the armies of the two countries could be in the pipeline.

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