PM Narendra Modi's Japan trip: Desalination project, opening of Mizuho Bank branch in Gujarat part of his agenda

NEW DELHI: There will be an important Gujarat connection when Prime Minister Narendra Modi visits Tokyo next week on his maiden trip as PM to the ‘Land of the Rising Sun’. Several key financial and infrastructure projects are expected to be concluded in the four-day trip and the list includes two projects on bank and desalination in the PM's home state as well.

When Modi visited Japan last as Gujarat CM in 2012, he had shown interest in Mizuho Bank opening a branch in Ahmedabad. The Reserve Bank of India did not approve the submission of the bank under the UPA government and the Japanese side had re-quested the central bank’s early approval, official sources told ET. A push from the Prime Minister himself will be crucial to the approval and this is expected in near future, sources indicated. Currently, Mizuho Bank has branches in Delhi and Mumbai.

The bank is part of the Mizuho Financial Group, one of the world’s largest financial institutions with total assets running to $1.8 trillion. The proposed desalination project at Dahej in Gujarat, as part of the Delhi Mumbai Industrial Corridor (DMIC), is also awaiting a final push, sources indicated. Japan is India’s key partner for setting up DMIC.

Interestingly, ahead of Modi’s trip, senior Japanese officials are travelling to Modi's home state. Japan’s sanitaryware firm TOTO is opening its branch in Gujarat this week, sources informed. Founded in 1917, TOTO is world’s largest toilet manufacturer, and its expanding presence in India is in synergy with Modi’s emphasis on cleanliness and access to toilets.

Japan’s business links with Gujarat are deep rooted. Even before Modi put Smart City on the national consciousness, two 'Smart City' projects by Japan were proposed in Dahej and Sanand industrial zones. Japan was also partner country for Vibrant Gujarat Summit in 2013.