Karnataka secures Rs 6,450 crore investment from Japan, South Korea, promises over 1,000 jobs

During the two-week visit from June 24 to July 5, the delegation met with over 35 industry leaders and 200 companies in both countries.
M B Patil, Minister for Large and Medium Industry.
M B Patil, Minister for Large and Medium Industry.Photo | Express

BENGALURU: A high-level delegation from Karnataka, led by Medium Industries & Infrastructure Development Minister MB Patil, secured an investment commitment of Rs 6,450 crore from Japan and South Korea.

Speaking to the media about a two-week visit to Japan and South Korea, Patil said the commitments from six major companies are projected to create over 1,000 jobs in Karnataka. During the two-week visit from June 24 to July 5, the delegation met with over 35 industry leaders and 200 companies in both the countries.

A statement from the minister’s office said Osaka Gas committed to expanding its gas distribution infrastructure in Karnataka with an investment of Rs 5,000 crore over the next five years. DN Solutions signed an MoU worth Rs 1,000 crore to establish a manufacturing facility for precision tools and automation systems, expected to create approximately 350 jobs.

Aoyama Seisakusho, a Japanese auto components supplier committed Rs 210 crore to set up a manufacturing facility in the Japanese Industrial Township and Daiki Axis, HyVISION, and EMNI Co. Ltd signed MoUs worth Rs 240 crore collectively, focusing on environmental equipment manufacturing and battery cell storage and testing.

Karnataka delegation identified promising leads worth Rs 25,000 crore across the automotive, electronics, and energy solutions sectors, the statement added.

Patil said he had a telephonic conversation with Union Heavy Industries Minister HD Kumaraswamy about Karnataka’s industrial development.

“We will soon meet him (Kumaraswamy) in person and submit a proposal. Karnataka will extend its full cooperation to him who has expressed interest in bringing large industries to the state, including semiconductor manufacturing units,” Patil added.

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