Karnataka nets Rs 6,450 crore investment commitment from Japan, South Korea; to create 1,000 jobs

Karnataka Large and Medium Industries & Infrastructure Development Minister MB Patil.

Karnataka Large and Medium Industries & Infrastructure Development Minister MB Patil said on July 10 that the state delegation’s visit to Japan and South Korea secured Rs 6,450 crore in investment commitments which could create more than 1,000 jobs.

Ahead of Karnataka's Global Investors Meet in February 2025,a high-level delegation from Karnataka, led by Patil recently concluded a two-week visit to Japan and South Korea.

"These commitments from six major companies are projected to create over 1,000 jobs in Karnataka," said Patil.

"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 two-week visit from June 24 to July 5, 2024, the Karnataka delegation engaged with senior leadership from leading companies and conducted investment roadshows for SMEs, highlighting Karnataka's robust manufacturing ecosystem," he said.

The delegation met with over 35 industry leaders and 200 companies across the two roadshows conducted in Japan and Korea.

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

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," said Patil.