Minister MB Patil to lead delegation

Bengaluru: A high-level delegation led by Karnataka’s Minister for Large, Medium Industries, and Infrastructure Development, MB Patil, is set to embark on a strategic business tour to Japan and South Korea from June 24th to July 5th, 2024. The delegation aims to fortify Karnataka’s position as a premier investment destination by engaging with key stakeholders and industry leaders in these nations.

Accompanying Minister Patil on this important mission are prominent officials including Selvakumar S, IAS, Principal Secretary, Department of Commerce and Industries, and Gunjan Krishna, IAS, Commissioner for Industrial Development and Director, Department of Commerce and Industries, along with other senior officers. During the visit, the delegates will emphasize Karnataka’s business-friendly policies, showcasing the state’s well-developed ecosystem that facilitates smooth operations and growth for foreign investors. They will highlight the abundant availability of skilled human resources in Karnataka, strengthened by the state’s dedicated efforts in skill development among students. Furthermore, the discussions will cover the efficient single window system implemented by the Karnataka government, which is designed to streamline business processes and approvals.

The delegation will strategically engage with industry leaders from key sectors including Manufacturing, Semiconductors, Technology, Automobile, Petrochemicals, Gas, and Energy. In Japan, high-level meetings are scheduled with executives from prominent corporations such as Nissin Foods, Hitachi, Nissan Motor Corporation, Sumitomo Heavy Industries, Toyota Motor Corporation, and Yamaha Motor Company. Similarly, in South Korea, the delegation will hold discussions with major players like Hyundai Motors, Samsung Electronics, HL Mando Corporation, the Korea Chamber of Commerce and Industry (KCCI), and Krafton. These engagements are designed to explore and secure collaborations, investment opportunities, and strategic partnerships, aiming to significantly bolster Karnataka’s industrial growth and drive innovation.

Furthermore, the delegation will extend invitations to stakeholders for the Invest Karnataka 2025, Global Investor Meet, scheduled to be held in February 2025 in Bengaluru. This event promises to be a significant platform for showcasing Karnataka’s investment potential and fostering global business partnerships.

This strategic tour underscores Karnataka’s commitment to fostering a conducive environment for global investors and enhancing bilateral relations with Japan and South Korea. The delegation’s efforts aim to attract substantial investments, driving economic growth and creating new opportunities within the state.

In the past year, this will be the third delegation trip led by the Minister. Previously, the Minister led a 12-day delegation to the United States, engaging with 36 companies and securing investment interests totaling around $3 billion. Additionally, he led the state delegation to the World Economic Forum in Davos, where they participated in meetings with over 50 firms. During this visit, the state signed seven MoUs valued at INR 22,000 crore and garnered over INR 700 crore in investment interest from top-tier companies.