Japan visit yields Rs 4,000 crore investment for state: Minister

Bengaluru: Karnataka has secured investment commitments worth over ₹4,000 crore from Japanese companies following Minister for Large and Medium Industries MB Patil’s recent visit to Japan.

Speaking to the media at his residence on Monday, Patil said this was his second visit to Japan aimed at attracting investments. “Japanese investors are known for their cautious and long-term decision-making. Nearly 50% of Japanese companies in India are already based in Karnataka. During my earlier visit to Japan and South Korea, we were able to draw in ₹6,500 crore investments,” he explained.

In this round of talks, companies such as Honda expressed interest in expanding operations in the state, while Mukand Sumi Steels discussed potential partnerships. Patil noted that global trade challenges, including the United States imposing a 50% import duty on Indian products (excluding electronics and pharmaceuticals), have created hurdles for investors. “Despite these challenges, securing ₹4,000 crore investment commitments is encouraging,” he added. He further observed that while some companies may initially invest smaller amounts, all such ventures enhance Karnataka’s industrial ecosystem.

Investors also value peace and stability in regions where they set up operations. “We must ensure that no part of the country creates conditions that discourage investment,” Patil urged.

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The Hans India