Agreement between Hiroshima Prefecture, Sumitomo Corporation and Mahindra Industrial Park Chennai Limited- Supporting companies entering the growing Indian market -

Sumitomo Corporation and Mahindra Industrial Park Chennai Limited ("MIPC"), the operator of Origins by Mahindra World City North Chennai ("Origins Chennai Industrial Park"), located near Chennai in the state of Tamil Nadu, Republic of India, have entered into an agreement (the "Agreement") with Hiroshima Prefecture to support the expansion of companies from Hiroshima Prefecture into India. Moving forward, the business development of companies from Hiroshima Prefecture in India will be supported under the terms of this Agreement.

According to the India Economic Report released by the World Bank last October, India's projected real GDP growth rate for FY2023 was set at 6.3%. This growth, combined with the country’s population of over 1.4 billion – the largest in the world – is expected to remain highly significant in the years to come, even in the midst of an uncertain global economy. Additionally, India's role as a key player in the Global South is enhancing its diplomatic and economic relationships, including with Japan. This evolving stature is making India increasingly attractive to international businesses, Japanese companies included.

MIPC has been developing, operating and selling the primary plot at Origins Chennai Industrial Park since it entered into operation in 2019. The park is currently home to 13 manufacturing companies, including six Japanese companies. It not only offers easy access to the center of Chennai and the international port but also to a vast local labor pool. Sumitomo Corporation brings its significant expertise from developing and managing industrial parks in nine locations across six Asian countries, which will ensure a seamless operational environment for tenant companies. Sumitomo Corporation especially supports with two secondees to support customers’ operation The location and the services provided to date have met with high praise, and the park continues to draw inquiries from interested parties.

Through the Agreement, Hiroshima Prefecture, Sumitomo Corporation and MIPC aim to facilitate the expansion of manufacturing companies based in Hiroshima Prefecture into India, with the objective of actively contributing to India's economic development while helping to realize the prosperity and dreams of local residents.

【Main Avenues of Cooperation Based on the Agreement】

• Consultation services for companies in Hiroshima Prefecture considering expansion to India
• Support for inspection visits to Tamil Nadu, India by companies in the prefecture
• Cooperation in seminars on entering the Indian market held for companies in Hiroshima
• Exchange of information to encourage companies in the prefecture to expand into India

【Overview of Origins Chennai Industrial Park】

【Origins Chennai Industrial Park Photos】

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