Comments
Karnataka has become a preferred destination for Japanese investments and the State is keen to have direct flights to Tokyo.
“The State currently houses 270 Japanese companies, major ones being Toyota, Honda, Amada, Casio, Denso, Fujitsu and Indo-Nissin,” said Karnataka Chief Minister Siddaramaiah.
Speaking at the MoU signing between Mie Prefecture Government (Japan) and Government of Karnataka, Siddaramaiah said, “With opportunities in virtually every facet of today’s economy, the State is a veritable treasure trove for investors and many Japanese companies are witness to this.” The Japanese government is keen to partner with Karnataka in development of major projects like the Chennai-Bangalore industrial corridor, Bangalore metro, Bangalore’s peripheral ring road and is now conducting a feasibility study for a Japanese industrial zone in the State.
Japanese investmentsToyota first came and set up its automobile plant in 1997 and later, Honda the largest two-wheeler manufacturing plant has come up at Narsapur in Kolar district.
“Today we are looking at the possibility of having a Japanese township taking shape at Vasantha Narsapura in Tumkur district,” he said.
Speaking on the occasion, Eikei Suzuki, Governor of Mie Prefecture Government, said this State is keen to have direct flights to Bangalore. “We have already initiated the steps from our side and hope to achieve it soon.”
The latest companies which have shown interest to invest are Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) and Mitsubishi Elevators. Karnataka Government through SHLCC has cleared the proposal of TMEIC to manufacture rotating motors and power electrical equipment at an investment of ₹250 crore. The company has identified Vasantha Narasapura Industrial area to set up its operations on KIADB’s 15 acre land and plans to employ 548 people.
Mitsubishi Elevators is planning to set up facility on a 22 acre land provided by KIADB at Vemagal Industrial area in Kolar to manufacture elevators at an investment of ₹170 crore and employ 305 people.
The MoU between Mie Prefecture and Karnataka was signed by Eikei Suzuki and Karnataka chief secretary Kaushik Mukherjee.
According to K Ratna Prabha, Karnataka additional chief secretary, commerce and industry department, the MoU envisages both parties to pursue economic development, investment bilateral trade including public private partnerships, studies experience and exchanges in area of technology and innovation, programme of intellectual exchange and health.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.