Chennai: The Tamil Nadu government will sign a memorandum of understanding (MoU) with the Kanagawa Prefecture of Japan for greater economic co-operation between the two regions.
This was disclosed by Dr N Sundaradevan, IAS, principal secretary, industries department, government of Tamil Nadu said in Chennai yesterday, while addressing a seminar on "Opportunities for Business Co-operation between Tamil Nadu and the Kanagawa Prefecture", organised by CII and the Japan External Trade Organisation (JETRO).
The state already has a similar an MoU with the Hiroshima Prefecture.
Sundaradevan said Kanagawa has played key role in the development of Japanese economy and is home for many of the leading Japanese companies like Nissan. The prefecture also possessed abundant natural resources, he added.
Co-operation between Tamil Nadu and Kanagawa was possible in areas like plastics and rubber processing, machine tools, industrial machinery, electronics and products, and environmental technology, he said.
Japan looks at India as a frontier in future with a strength in technology. Besides automobiles, the Japanese companies have diversified investments into areas like pharmaceuticals, home electronics, life and non-life insurance and telecommunication, Dr Sundaradevan said. Within India, Tamil Nadu has been identified as one of the staes with the most potential for attracting Japanese investments, he added.