China no longer safe, companies keen to invest in India says, Devendra Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis met with the officials of one of the largest power generation companies "JERA", which has invested in the Indian renewables power production space in 2016, and welcomed the company to once again invest in Maharashtra.The officials briefed Fadnavis about JERA business in Japan and globally.

JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. They have total assets of JPY 8.7 trillion / USD 60 bn. They are one of the largest power generators in Japan with installed capacity of more than 70 GW. They invested in the Indian renewables power production space in 2016 and continue to be a partner," Fadnavis wrote on X. The company officials expressed their "strong desire to explore investment and partnership" with the Government of Maharastra in areas of Green Hydrogen and Ammonia, Renewable Energy and LNG."This is in line with their vision to be Zero CO2 Emissions by 2050 he added.

Addressing the media outside Mumbai airport, Fadnavis said, “One key aspect which emerged during the official tour was the growing confidence of Japan government and companies on India. The relations between India and Japan have become stronger.”Fadnavis said, “Japan is looking at India as a better option for business partnership and investment. They have sensed the potential and security of doing business collaboration and investment in India.”According to Fadnavis, “Japanese companies want to come to India. They no longer feel safe investing in China. They are now looking at India for security. They find India safer destination for business partnership and long term investments.”Maharashtra, which is the leading destination in terms of economic and foreign direct investment, is bound to play greater role. It will be our endeavour to encash the trust Japanese companies and government has shown in India. Maharashtra will have the biggest share in drawing investments from Japan, the Deputy CM said