BENGALURU: Minister for Large and Medium Industries MB Patil on Tuesday said the state government is considering the opening of Invest Karnataka Forum (IKF) offices in the US, Japan, Taiwan, South Korea and France.
The move is to attract investment from these countries into Karnataka. The proposal was discussed at a meeting of the IKF’s board of directors, following which Patil directed officials to assess the advantages and disadvantages of the proposal, hold consultations and submit a report.
"There is intense competition among states to attract industrial investments. Some states have already taken steps to open offices in foreign countries to attract investments. Karnataka cannot afford to lag in this. We must assess each country’s industrial strengths and sectoral specialisations and take appropriate action,” Patil said.
The minister said discussions have been held on appointing “country leads” through the IKF platform in some other countries as well, and that another meeting will be held shortly to that end.