During this visit to Japan, discussions were held with companies including Honda regarding expansion plans, as well as with Mukand Sumi Steels on potential partnerships. Photo: X screengrab | @MBPatil
Karnataka to receive Rs 4,000 cr investment from Japan: Industries Minister MB Patil
Highlighting Karnataka’s position, he pointed out that half of all Japanese companies operating in India have chosen the state as their base
Nearly 50 per cent of Japanese enterprises operating in India are based in Karnataka, said Industries Minister MB Patil, recalling that during his earlier visits to Japan and South Korea, the state had secured investments worth Rs 6,500 crore.
MB Patil announced that following his latest visit to Japan, various companies from the country are set to invest more than Rs 4,000 crore in Karnataka.
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Japanese companies in Karnataka
Speaking to the media on Monday (September 15), he said this was his second visit to Japan with the specific aim of attracting investments. Japanese business leaders, he noted, are known for their traditional approach and take decisions only after careful and prolonged consideration. Highlighting Karnataka’s position, he pointed out that half of all Japanese companies operating in India have chosen the state as their base.
During this visit, discussions were held with companies including Honda regarding expansion plans, as well as with Mukand Sumi Steels on potential partnerships.
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‘Positive outcome of trip’
Meanwhile, he observed, the United States has imposed 50 per cent import duties on most Indian products, except electronics and pharmaceuticals. This has created a challenging environment for global investors. Despite these hurdles, the assurance of fresh investments worth Rs 4,000 crore from Japan was a positive outcome of the trip, Patil said.
He further noted that while some firms may invest smaller amounts, every investment enhances the overall value of Karnataka’s industrial ecosystem.
Investors, he emphasised, prefer a peaceful and stable environment when making such decisions. It is therefore important, he cautioned, that no part of the country creates conditions that could discourage capital inflows.
(This article was originally published in The Federal Karnataka)