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The Japanese government has come forward to partner with Karnataka to develop an exclusive Japanese township-cum-industrial zone in the State.
A detailed feasibility study on ‘World Class Industrial Park’ was conducted recently by the Ministry of Economy and Trade and Industry of Japan (METI) and the Karnataka government,” said Gaurav Gupta, Commissioner at the Department of Commerce and Industries.
Pilot project “A pilot project for a model industrial park is already under way at Vasantha Narasapura in Tumkuru district. All the required support is being extended by the State government,” he added.
The industrial zone is aimed at attracting industrial units to the vicinity of the Chennai Bangalore industrial corridor.
The official said Japan is seeking a separate zone or an industrial cluster to facilitate OEMs and ancillary units for effective collaboration.
SMEs play an important role in enhancing industrial competitiveness as they are the suppliers of key parts and primary technology to OEMs. However, SMEs here have not been able to start businesses by themselves.
Rise in investments Bengaluru has seen a steady increase in Japanese investments over the years and the number of companies has doubled in the last four years.
“The city has become home to more than 1,000 Japanese residents, the highest number in the country after Delhi. The number of Japanese companies in Karnataka is 314,” Gupta said.
“The significance of Japanese investments is that the implementation rate is almost 95 per cent and hardly any company has withdrawn the proposals,” he said.
Monitoring panel The State government has constituted a Dialogue and Monitoring Committee under the chairmanship of the Chief Secretary to address the issues of infrastructure necessary for smooth and speedy implementation of projects, including the industrial corridor and high-speed rail network.
A project facilitation committee chaired by the Commissioner of Industrial Development is engaged in resolving various issues connected to the implementation of Japanese projects.
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