In yet another initiative that will bring Gujarat and Japan closer, the Industrial Extension Bureau (iNDEXTb), a nodal agency of the state government, on Monday signed an MoU with the Mizuho Corporate Bank & Mizuho Bank, Japan to promote further economic expansion in India, especially Gujarat.

INDEXTb will provide assistance and support to Mizuho’s client companies which are investing in Gujarat and doing business with Indian companies, by means of introducing local partners as well as assisting with the implementation of projects in Gujarat.

The MoU was signed by Bhagyesh Jha, MD, iNDEXTb and Takeo Kada, CEO India & GM, Mumbai Branch, Mizuho Corporate Bank in the presence of Minister for Industry and Energy Saurabh Patel; Principal Secretary, I&M, Maheshwar Sahu and Industries Commissioner Sujit Gulati.

INDEXTb and Mizuho will try and reach out to companies in Japan, which are interested in business opportunities in Gujarat, a statement said. They will also jointly organise dialogue sessions with Japanese companies, including Small and Medium Enterprises (SMEs), both in India and Japan.

INDEXTb and the Government of Gujarat have been actively supporting investments in the state, including through cross-border initiatives, the statement added.

Meghraj Capital Advisors, through its office in Ahmedabad, has supported Mizuho to reach an agreement with the government. Meghraj will continue to assist Mizuho to develop the initiative, the statement issued by the company said.

The Tokyo-based Mizuho Financial Group is among the world’s largest financial groups.