Karnataka Secures ₹6,450 Crore Investment from Japan and South Korea.

In a significant economic development, Karnataka's Medium Industries & Infrastructure Development Minister MB Patil led a high-profile delegation that successfully secured investment commitments totaling Rs.6,450 crore from Japan and South Korea.

During a two-week visit spanning from June 24 to July 5, the delegation engaged with over 35 industry leaders and 200 companies across both nations. Minister Patil highlighted that these engagements resulted in commitments from six major companies, expected to generate more than 1,000 new jobs in Karnataka.

Among the notable agreements, Osaka Gas pledged a substantial Rs.5,000 crore investment to enhance gas distribution infrastructure in Karnataka over the next five years. DN Solutions signed a Memorandum of Understanding (MoU) worth Rs 1,000 crore to establish a manufacturing facility specializing in precision tools and automation systems, foreseeing the creation of approximately 350 jobs.

Additionally, Aoyama Seisakusho from Japan committed Rs 210 crore to establish a manufacturing unit within the Japanese Industrial Township, while Daiki Axis, HyVISION, and EMNI Co. Ltd collectively signed MoUs amounting to Rs 240 crore. These agreements focus on manufacturing environmental equipment and battery cell storage and testing.

The delegation identified prospective investment opportunities totaling Rs 25,000 crore in sectors including automotive, electronics, and energy solutions, signaling robust growth prospects for Karnataka's industrial landscape.

Minister Patil underscored the collaborative efforts with Union Heavy Industries Minister HD Kumaraswamy, emphasizing plans to submit proposals aimed at attracting large-scale industries to Karnataka, including semiconductor manufacturing units.

"We are committed to extending full support to Minister Kumaraswamy's initiatives, which align with our vision to bolster Karnataka's industrial prowess," Minister Patil affirmed.

The investment commitments mark a significant stride towards enhancing Karnataka's industrial footprint and fostering economic growth in the region.

THE NEW INDIAN EXPRESS