Karnataka Industries Minister MB Patil and his team of officials in Japan.
Bengaluru: Large and Medium Industries Minister MB Patil recently announced that investments worth ₹4,000 crore have been confirmed during the recently concluded visit to Japan by the delegation led by him.
Expressing satisfaction with the success of the visit, he told the media that these new investments by some of Japan’s leading companies would further strengthen the existing industrial ecosystem in Karnataka.
“Japanese investors arrive at decisions only after careful consideration. Moreover, Karnataka is home to more than 50 percent of the total Japanese companies operating in India,” he said, adding that the earlier visit to Japan and South Korea had resulted in attracting investments of around ₹6,500 crore.
During the latest visit, discussions were held on several projects, including the expansion plans of Honda and a proposal by Sumitomo, in collaboration with Mukand Sumi, to set up a steel plant, Patil noted.
He further observed that the 50 percent tariff imposed on Indian goods by US President Donald Trump has caused some disruption.
In such a situation, it has become challenging for investors to take decisions, he added.
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