PM Modi meets heads of NEC Corporation and Uniqlo in Japan to discuss investment opportunities in India

Prime Minister Narendra Modi met Chairman of NEC Corporation Nobuhiro Endo in Tokyo on Monday, as part of his two-day visit to the country, and discussed the Japanese multinational company’s role in India’s telecommunication sector. He also met the CEO of Japanese clothing brand Uniqlo to discuss investment opportunities for the retailer in textile manufacturing in India.

“The Prime Minister appreciated NEC’s role in India’s telecommunication sector, especially in undertaking Chennai-Andaman & Nicobar Islands (CANI) and Kochi-Lakshadweep Islands (KLI) OFC projects. He also highlighted investment opportunities under the Production Linked Incentive (PLI) scheme,” the Ministry of External Affairs (MEA) said in a statement.

According to MEA, they discussed various reforms being undertaken to enable ease of doing business in India including in areas of industrial development, taxation and labour. They also discussed opportunities in India in new and emerging technologies.

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While Tadashi Yanai appreciated the entrepreneurial zeal of the people of India, Modi asked him “to take part in the PM-Mitra scheme aimed at further strengthening the textiles sector,” PMO India tweeted.

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“Boosting India’s textile sector. PM @narendramodi met CEO of Fast Retailing, the parent company of @UNIQLO_JP, Tadashi Yanai,” MEA spokesperson Arindam Bagchi tweeted. “Discussed Uniqlo’s growing presence in India and investment opportunities for textile manufacturing in India under PLI scheme.”

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The PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks Scheme is aimed at developing textile parks through a special purpose vehicle owned by the central and state government and in a public-private partnership (PPP) model.

Each park will have an incubation centre, a common processing house and a common effluent treatment plant and other textile related facilities, such as design centres and testing centres. The Master Developer is not just required to develop the industrial park but also maintain it during the concession period.

PM Modi arrived here for a two-day visit at the invitation of the Japanese Prime Minister Fumio Kishida. Prime Minister Modi will participate in the third Quad Leaders’ Summit in Tokyo on May 24 along with other Quad members.

The PM will have a bilateral meeting with Fumio Kishida, Prime Minister of Japan, on 24 May. The meeting with PM Kishida will provide an opportunity for the two leaders to carry forward their conversations from the 14th India-Japan Annual Summit held in March 2022, when PM Kishida visited India. During the visit, the PM will participate in a Business Event with Japanese business leaders and also interact with the Indian community.

Indian ambassador to Japan Sanjay Kumar Verma on 22 May had said that PM Modi will have a round table with 35 business leaders.

“We have a round table where we will have around 35 business leaders and they are quite big as companies, and in addition, leaders will be separately meeting the PM,” he told ANI.

With inputs from agencies

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