Japan to offer Rs 1,129 crore for campus development at IIT Hyderabad

New Delhi: According to a statement issued by the Japan International Cooperation Agency (JICA), in a meeting between Rajesh Khullar, Joint Secretary in the Finance Ministry and Takeshi Yagi, Ambassador of Japan to India, Japan has agreed to give a financial assistance of Rs 1,958 crore (30.7 billion yen) to India. Out of these, Rs 1,129 crore will be given to IIT Hyderabad for the second phase of its campus development and Rs 829 crore for investment promotion programme in Tamil Nadu.

The chief representiative of JICA in India, Shinya Ejima said, “Quality infrastructure is the key to attract foreign direct investment (FDI) for the manufacturing sector in India, which can create more jobs and help India to grow more rapidly.

The infrastructure development in Tamil Nadu will inclue development of roads, water and sewage systems and power supply for industrial zones in Chennai as well as to other preferred locations where most of the international manufacturers set up factories.

This post was written by Aditya Singhal, co-founder of askIITians.