Japan, Singapore double down on Gujarat as investment hub

Surat: Signalling deepening global confidence in Gujarat's economic ecosystem, Japan and Singapore on Friday outlined ambitious expansion plans across semiconductors, infrastructure, finance and manufacturing at the Vibrant Gujarat Regional Conference (VGRC) in Surat.Japan's ambassador to India, Keiichi Ono underlined Tokyo's long-term commitment to the state. "Japan has been proud to partner Vibrant Gujarat since 2009," he said, describing Surat as a leading commercial hub and a key node in the India-Japan high-speed rail corridor.Highlighting Japan's industrial footprint, Ono pointed to the Hazira plant of ArcelorMittal Nippon Steel India, where investments have reached Rs 1.4 lakh crore, generating over 40,000 jobs. The facility has produced 7.2 million tonnes of steel so far and is expected to double capacity to 15 million tonnes. He also flagged emerging collaboration in semiconductors, calling for development of a robust supplier ecosystem, and cited Maruti Suzuki's biogas initiative as an example of sustainable innovation aligned with farmers' incomes.Singapore, too, reinforced its position as a key economic partner. Its high commissioner to India, Simon Wong noted that Singapore has been India's largest source of FDI over the past 12 years, with cumulative inflows of $179 billion since 2014.Wong said Gujarat accounts for nearly half of India's exports to Singapore, spanning petrochemicals, textiles, jewellery and pharmaceuticals. "Surat alone exports cut and polished diamonds worth $100 million to Singapore, and one in every four denim jeans comes from the city," he said.He added that Singapore is looking to expand investments in semiconductors and financial services across Dholera, GIFT City and Sanand, pitching data centres and AI-fintech sandboxes. Expressing confidence in GIFT City's trajectory, Wong said it is poised to emerge as a hub for USD-INR bond issuances, with more announcements expected at the upcoming Vibrant Gujarat summit.Rwanda envoy Jacqueline Mukangira highlighted strong trade and cultural links with Gujarat, while Seychelles' Harisoa Lalatiana Accouche stressed boosting ties via renewable energy and tourism.
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