Karnataka secures Rs 6,450 cr investment commitments from Japan, South Korea

Bengaluru: A high-level delegation led by Karnataka Minister for Large, Medium Industries, and Infrastructure Development M.B. Patil has secured investment commitments and MoUs worth Rs 6,450 crore during a recently concluded two-week visit to Japan and South Korea, the state government said in a statement on Wednesday.

These commitments from six major companies are projected to create over 1,000 jobs in the state, the statement noted.

During the two-week visit from June 24 to July 5, the delegation engaged with leading companies and conducted investment roadshows for SMEs, highlighting the state's robust manufacturing ecosystem.

Karnataka has positioned itself as a prime location for global investments. The state will now focus on realising these MoUs and converting discussions into concrete investments, ensuring smooth grounding of investments and continued economic growth, said Minister Patil.

The delegation met with over 35 industry leaders and 200 companies across the two roadshows conducted in Japan and Korea. Beyond immediate commitments, the 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, he added.