As part of the Vibrant Gujarat Global Summit initiative, a high-level Gujarat delegation visited South Korea and held a meeting with leading global textile manufacturer Youngone Corporation in Daegu. The meeting included senior company officials, such as President Jae-young Park.
Youngone Corporation specialises in outdoor sportswear, performance apparel, and textile manufacturing, employing approximately 100,000 people worldwide. It is also a major producer of high-quality fabrics and synthetic materials.
During the meeting, Deputy Chief Minister Harsh Sanghavi invited Youngone Corporation to invest in Gujarat and establish joint ventures within the state. He noted that Gujarat contributes nearly one-third of India’s man-made fibre production and provides a complete textile value chain, from cotton production to ready-made garments.
Sanghavi highlighted investment opportunities at the PM MITRA Textile Park, which is being developed on 1,142 acres in Navsari. He emphasised that Gujarat’s industry-friendly policies, port infrastructure, and strong logistics connectivity offer significant advantages to investors. The Deputy Chief Minister also invited company representatives to attend the upcoming Vibrant Gujarat Global Summit and visit Gujarat’s textile clusters.
Prior to this, Sanghavi led the state government delegation to Japan on October 21, holding meetings in Tokyo. On that day, he addressed two large roundtables with a combined total of 129 Japanese companies. These included a luncheon roundtable with 57 industrialists from various sectors and an automobile supply chain roundtable with 72 Suzuki suppliers.
During his visit, Sanghavi met with Suzuki Motor Corporation President Toshihiro Suzuki, Japan’s State Minister of Foreign Affairs Nakasone Yasutaka, and Governor of Iwate Prefecture Takuya Tasso. He also conducted individual meetings with 11 major Japanese companies, including Sumitomo Chemical, Furukawa Electric, Honda, Tokyo Electron, Kyowa Leather, JERA, MUFG Bank, Marubeni, Sanrio, Meiraku, and Moririn.
Reporting key outcomes from the meetings, Suzuki Motor Corporation announced that its current Gujarat production of 1 million cars annually is expected to double to 2 million cars in the coming years. Additionally, 24 new suppliers from Suzuki’s supply chain expressed interest in establishing operations in Gujarat on a fast-track basis.
