Japan has expressed its intentions to invest in Jharkhand. Japanese multinational companies are looking for investment destinations in Jharkhand. Within a week, Japanese government officials have discussed the possibility of investment twice with Jharkhand’s industry secretary Pravin Kumar Toppo via video conferencing. The industry secretary also invited Japan’s multinational Nippon Corporation to invest in Jharkhand.
On behalf of the Government of Japan, International Investment Management Agency, JETRO or Japan External Trade Organization is showing its interest in investing in Jharkhand. On July 22, the Chief of JETRO had a video conference with the Industry Secretary to know the key aspects of Jharkhand’s industry policy. On July 29, Hideki Ogawa, part of top management of Japan-focused multinational Nippon Steel Corporation, spoke to Jharkhand’s industry secretary. Japan’s Trade Policy Deputy Director General Osamu Onodera was also present on the occasion. Hideki Ogawa inquired about the steel sector in Jharkhand. Industry Secretary Pravin Toppo promised Ogawa all possible support in Jharkhand. Officials of the Ministry of External Affairs of the Government of India were also involved in this dialogue.
Government of Japan and Japanese companies are eyeing the steel sector of Jharkhand. The biggest reason for this is the presence of two of the world’s largest steel plants, Tisco at Jamshedpur and SAIL’s steel plant at Bokaro in Jharkhand. The state also has enough iron ore reserves. Japanese companies can also benefit from this. Along from this, the close proximity of the ports of Paradip and Haldia make Jharkhand an ideal destination. Japanese companies may also consider the possibility of partnering with a large steel company which is already operational in Jharkhand. Government of India is also taking initiative to invest in the steel sector of Jharkhand. A steel cluster has already been announced in Bokaro. For this, thousands of acres of unused land of Bokaro Steel Plant have been reserved. However, the choice of location will depend on the top management of the investing companies.
After the Corona period, the historical tussle between China and Japan has increased. In such a situation, Japanese companies are preparing to divert Chinese investment to favorable countries. Jharkhand could be a suitable place for them in terms of industrialization. In such a situation, the Government of Jharkhand is also planning to take advantage of this opportunity.
