Karnataka Large and Medium Industries & Infrastructure Development Minister MB Patil announced that the state has secured Rs 6,450 crore in investment commitments during a recent delegation visit to Japan and South Korea. This significant achievement is expected to create over 1,000 jobs in the state.
The high-level delegation, led by Patil, concluded a two-week visit to Japan and South Korea from June 24 to July 5, 2024, as part of the preparations for Karnataka’s Global Investors Meet in February 2025. The delegation’s efforts have resulted in commitments from six major companies, projecting the creation of over 1,000 jobs.
‘Beyond immediate commitments, the Karnataka delegation identified promising leads worth $3 billion (Rs 25,000 crore) across the automotive, electronics, and energy solutions sectors. These leads signify potential future investments and underscore Karnataka’s strategic importance as an investment destination,’ said Patil.
During the visit, the Karnataka delegation engaged with senior leadership from leading companies and conducted investment roadshows for SMEs, highlighting Karnataka’s robust manufacturing ecosystem. The delegation met with over 35 industry leaders and 200 companies across the two roadshows conducted in Japan and Korea.
Among the significant commitments, Osaka Gas will invest Rs 5,000 crore to expand its gas distribution infrastructure in Karnataka over the next five years. DN Solutions signed a Rs 1,000 crore MoU to establish a manufacturing facility for precision tools and automation systems, creating 350 jobs. Aoyama Seisakusho committed Rs 210 crore for a manufacturing facility in the Japanese Industrial Township in Tumakuru. Additionally, Daiki Axis, HyVISION, and EMNI Co. Ltd signed MoUs worth Rs 240 crore collectively for environmental equipment manufacturing and battery cell storage and testing.
Sumitomo Heavy Industries plans to open its head office in Bengaluru by the end of 2024 and enhance its collaboration with key customers like Siemens and GE.
‘The state will now focus on realising these MoUs and converting discussions into concrete investments, ensuring smooth grounding of investments and continued economic growth,’ Patil added.
