Karnataka Chief Minister BS Yediyurappa called Japan an important partner for the state and urged the nation to strengthen their partnership, promising all required assistance.
“Addressed the Indo-Japan Business Forum virtual event today. Urged Japan, which has a significant presence in Karnataka to strengthen their partnership in the state. Our government has taken strong measures to build a robust economy and make Karnataka a benchmark state in India” the CM tweeted.
In his address to the 'Indo-Japan Business Forum' on August 26, Yediyurappa said that Karnataka has set up a Japanese Industrial Township at Vasanthanarasapura near Tumkuru town, adding that 519 acres of land have been developed and readied for roads, power, and water supply.
A Japan-India Startup Initiative has been taken up to promote start-ups, he said. For this, a hub was established in Bengaluru by JETRO (Japan External Trade Organisation) to identify select Indian start-ups for the Japanese market.
According to the Chief Minister, the India-Japan Comprehensive Economic Partnership Agreement covers trade in goods and services.
He said Foreign Direct Investments (FDIs) from Japan to India increased from $1.6 billion in 2017-18 to $3.2 billion in 2019-20.
He further highlighted the measures taken to build the state as a robust industrialised economy that would be a model for other states.
"Our state is at the forefront of attracting FDI into the country, and I can assure you that we will set the benchmark as we progress beyond the COVID-19 phase," Yediyurappa said.
To promote the emerging start-up industry ecosystem, landmark legislation creating the Karnataka Innovation Authority has been passed, he said.
The government has taken steps to ensure investors find it easy to do business, said the chief minister.
Over the last few months, labour laws have been simplified to attract investments, added Yediyurappa.(With inputs from PTI)