Assocham's delegation to Japan to attract investment in SEZ

NEW DELHI: Industry body Assocham along with the Ministry of Commerce and Industry will lead a 40-member business delegation comprising representatives from Videocon, JSW Steel, SAIL and others to Japan to attract investments to India's Special Economic Zones (SEZs).

"The members of Indian delegation led by Assocham President Sajjan Jindal would interact with Japanese businessmen and appraise them to take advantage of sprawling SEZs facility in India," the chamber said.

The delegation, which would leave for Japan on July 26, would be seeking investment in power equipment, steel value addition, environment technology, capital goods machinery, construction work, R&D, engineering and automation, it said.

Business meetings aimed at building partnerships to make India's SEZs a preferred destination for Japanese investments have been planned at Tokyo, Osaka and Yakohoma, it said.

"Indian delegates and Japanese businessmen ... feel elated and hopeful for concluding business tie ups as both the sides are getting right and desired opportunity to beat the recession," the chamber said.

Companies which would be a part of the delegation include Videocon, JSW Steel, Sri City, SAIL, Rashtriya Ispat Nigam and Patni Computers. Export promotion council for SEZs and Export Oriented Units (EOUs) would also be a part of the delegation, the chamber said.

Of the total 576 formal approvals for setting up SEZs in the country, 319 have been notified.