Wednesday, November 11, 2026
9.9 C
London

Odisha signs pact with Japan’s Tottori to boost investment, technology ties | Economy & Policy News


The deepening strategic partnership between India and Japan is opening up a new avenue of bilateral cooperation, with Odisha forging closer economic and industrial ties with one of Japan’s prefectures on Wednesday.

 

As a first major step towards institutionalising this engagement, Odisha and Japan’s Tottori Prefecture signed an agreement to promote investments, business partnerships, skill development and cultural exchanges, besides creating overseas employment opportunities for the state’s youth.

 

The agreement, signed in the presence of Chief Minister Mohan Charan Majhi and Tottori Governor Shinji Hirai in Bhubaneswar, is aimed at taking the growing India-Japan partnership beyond government-to-government and large corporate engagements to direct collaboration between businesses, educational institutions and people in the two regions.

  

A high-level 80-member Japanese delegation, comprising representatives from industry, technical institutions, banking and financial institutions, and trade and commerce, is on a three-day visit to Odisha. The visit, one of the largest by a foreign delegation to the state, is expected to open up fresh opportunities for Japanese investments and partnerships across sectors.

 

Majhi described the agreement as an important milestone in extending the historic India-Japan relationship to the sub-national level. “India and Japan share a bond rooted in deep trust, mutual respect and ancient civilisational ties,” he said, hoping that the partnership would bring the institutions and business communities of Odisha and Tottori closer.

 

Highlighting the growing presence of Japanese companies in Odisha, Majhi said the business interests of Indo Nissin, Nippon Steel, JFE Steel, TRL Krosaki, TYK Ceramics, Yokohama Rubber, IHI Corporation and Toray Industries Inc reflected confidence in the state’s industrial ecosystem. These companies, he said, had brought capital, modern technology and employment opportunities to Odisha.

 

The chief minister invited Tottori’s business community to explore opportunities in Odisha’s MSME sector, startups, industrial clusters and skilled workforce. He assured Japanese investors of the state government’s support in developing sustainable business partnerships.

 

The Tottori Governor expressed his commitment to building a lasting partnership through economic cooperation, cultural exchanges and closer engagement between businesses and people. “We are starting a new era of partnership between the great state, beautiful state of Odisha and Tottori Prefecture,” he said.

 

Appreciating Odisha’s development initiatives, Hirai said the two regions had considerable potential to expand collaboration and create new avenues for mutual growth. “Our collaborations can do wonders in many fields, including technology, health care, academics and tourism. We will soon begin our journey for a great future ahead,” he added.

 

Japanese companies have developed a presence in Odisha across several industrial segments. Indo Nissin Foods operates a manufacturing facility at Khordha, while TRL Krosaki, backed by Japan’s Krosaki Harima Corporation, has an established refractory manufacturing operation at Belpahar. TYK Ceramics is also expanding its business interests in the state.

 

Among the major investment proposals, Japan’s JFE Steel has entered into a 50:50 joint venture with JSW Steel for the expansion of the latter’s integrated steel facility at Sambalpur, involving an overall investment of around ₹32,000 crore. Japan’s IHI Corporation and India’s ACME Group have signed a deal for three green-energy projects in Odisha involving a combined proposed investment of ₹67,000 crore.

 

Japan’s Nippon Steel is also part of the ArcelorMittal Nippon Steel partnership behind the proposed 12-million-tonne-per-annum integrated steel plant in Kendrapada district, involving an investment of over ₹1 trillion.

 

Hemant Sharma, additional chief secretary of the Industries Department, said the agreement with Tottori is expected to widen the scope of cooperation beyond capital-intensive industrial projects to include small businesses, startups, technical institutions and skilled workers.

 

“The visiting companies and business representatives are exploring potential collaborations in water management, urban infrastructure, AI-based construction management, precision manufacturing, agriculture, healthcare, aquaculture and waste management,” Sharma said.

 

Two institutional memorandums of understanding (MoUs) were also exchanged alongside the agreement. The first was between Startup Odisha and Tottori Prefecture to facilitate startup exchanges, mentoring, investor connections and technology partnerships. The second MoU, involving Odisha’s World Skill Center (WSC), Tottori Prefecture and Japanese organisation Nihon Edutech, focuses on human resource development and overseas employment.

 

The event was attended by Industries Minister Sampad Chandra Swain, MSME Minister Gokulananda Mallik, Japan’s Consul-General in Kolkata Ishikawa Yoshihisa, Chief Secretary Anu Garg, senior government officials, industrialists and academicians.

 



Source link

Hot this week

United States And Beyond Boost Travel Casting Call For Margaritaville At Sea Commercial

Image generated with AiFlorida is attracting fresh attention from...

As Agniveers get option of longer service, pvt security firms face a void | India News

Under the original 2022 policy, 75 per cent...

A useful policy primer, but limited analysis leaves major policy gaps | Book Reviews

Policies that Shaped Modern IndiaBy Madan SabnavisPublished by Rupa208...

Net direct tax collections rise 11.8% to ₹14.42 trillion as of November 10 | Economy & Policy News

The Centre’s net direct tax collections rose 11.8...

Topics

spot_img

Related Articles

Popular Categories

spot_imgspot_img