Mumbai, Dec 28 (KNN) Investments from Japan in the state of Maharashtra has increased by 13 per cent at USD 1.25 billion in 2019-20 over the previous financial year, as per the Maharashtra Industrial Development Corporation (MIDC).

The FTA between India and Japan has played key role in providing opportunities for industries in the both the countries.

The state has seen a significant increase in Japanese investment in recent years, with Japanese companies setting up operations in a range of sectors, including automobiles, engineering, electronics, and chemicals, reported Business World.

Automotive giants, engineering firms, and electronics companies are some of the key Japanese companies that have invested in Maharashtra.

The India-Japan Free Trade Agreement (FTA) is a bilateral trade agreement between the two countries, aimed at promoting trade and economic cooperation.

According to data from the Ministry of Commerce and Industry, total bilateral trade between India and Japan stood at USD 20.57 billion FY 2021-22. India’s export to Japan during FY 2021-22 stood at USD6.18 billion and imports stood at USD14.39.  (KNN Bureau)